The European Investment Bank and China have signed a euro500 million (USD668.6 million) loan agreement designed to fund projects that aim to reduce China’s greenhouse gas emissions. The money will be primarily spent on projects that enhance energy efficiency and promote a better and more expanded use of renewable energy sources.
This is EIB’s second climate change loan to China, Dow Jones Newswire says. It was signed in Beijing by Chinese Vice Minister of Finance Li Yong and EIB Vice President Magdalena Alvarez Arza.
