EIB Backs China Green Projects

The European Investment Bank is providing a total of 134 million euros (USD202 million) in loans for four carbon reduction projects in China, BusinessGreen.com reports. The first loan is worth 31 million euros and will be used to improve energy efficiency in the Chinese city of Jian, while the second loan worth 29 million euros will support a solar power project in Chaoyang. The third loan of 40 million euros will finance the construction of 10 hydropower plants in the city of Yichang, and the fourth loan worth 30 million euros will be for the construction of a co-product plant in the town of Qiaokou. These projects aim to increase China's energy efficiency while removing up to 830,000 tons of carbon dioxide emissions from the atmosphere.

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.