China central bank issues first loans for emission-cuts financing

[BEIJING] China's central bank said on Thursday (Dec 30) it had issued the first 85.5 billion yuan (S$18.2 billion) batch of low-cost loans to financial institutions to promote green projects and corporate efforts to cut carbon emissions.

Under the carbon emission reduction facility (CERF), the first of its kind to be rolled out by the Chinese central bank, financial institutions can apply for low-cost funding after they have given loans to finance firms' efforts to reduce emissions.

REUTERS