Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
SHANGHAI, June 6 (Xinhua) — The BRICS New Development Bank (NDB) on Friday announced the signing of a 1.2 billion yuan (about 167 million U.S. dollars) syndicated loan agreement to support environmental projects in China.
As noted by the NBR, the agreement, concluded jointly with the Bank of China and the Chinese company Haitong Unitrust International Financial Leasing Co., Ltd., is aimed at financing green leasing sub-projects focused on environmental goals and climate commitments of the PRC.
Under the agreement, the NDB will provide more than 713.32 million yuan, while the Bank of China will provide an additional 500 million yuan. Haitong Unitrust, in turn, will use the funds to purchase and lease equipment for projects in areas such as wastewater treatment, solid waste management and power generation from iron and steel exhaust gases.
To promote balanced regional development, eligible sub-projects will be implemented outside China’s first-tier cities, bringing investment to less developed areas of the country.
“This initiative meets the needs for climate resilience and environmental protection, and also helps increase investment in less developed regions of China,” said Vladimir Kazbekov, Vice President and Chief Operating Officer of the NDB.
The NDB was established in 2015 by Brazil, Russia, India, China and South Africa. It is a multilateral development bank that aims to mobilize resources for infrastructure and sustainable development projects in the BRICS region and other emerging market and developing economies. –0–