For the week of 17-23 July
On 15 June, the Ministry of Finance, Ministry of Ecology and Environment, and the Shanghai city government co-launched the National Green Development Fund.
In the works since 2015, the fund is designed to ease access to debt and equity funding for green projects, ranging from energy efficiency improvements to ecological restoration and pollution management, according to magazine FOF Weekly.
Dr Guo Peiyuan, chairman of SynTao Green Finance, a prominent ethical investments consultancy, called the fund “a milestone” in China’s green finance sector.
With an initial 10-year round of funding of 88.5 billion yuan, the fund received finance from China’s central bank and 11 provincial and city-level governments in the Yangtze River region. Accordingly, its major focus will be on the green and “high quality” development of the Yangtze River Economic Belt, which was made a national priority in 2016.
According to a Xinhua report, the fund is already considering up to 80 proposals, including battery recycling, electric vehicle charging points, clean energy generation and waste disposal.
However, an “industry insider” told FOF Weekly that lack of clarity over financing time limits will make it difficult for projects to raise financing from the fund. They see a need for more detailed information on how the fund functions.
Read about another major development in China’s green financing this year, the green bonds catalogue, on China Dialogue here.
In the works since 2015, the fund is designed to ease access to debt and equity funding for green projects, ranging from energy efficiency improvements to ecological restoration and pollution management, according to magazine FOF Weekly.
Dr Guo Peiyuan, chairman of SynTao Green Finance, a prominent ethical investments consultancy, called the fund “a milestone” in China’s green finance sector.
With an initial 10-year round of funding of 88.5 billion yuan, the fund received finance from China’s central bank and 11 provincial and city-level governments in the Yangtze River region. Accordingly, its major focus will be on the green and “high quality” development of the Yangtze River Economic Belt, which was made a national priority in 2016.
According to a Xinhua report, the fund is already considering up to 80 proposals, including battery recycling, electric vehicle charging points, clean energy generation and waste disposal.
However, an “industry insider” told FOF Weekly that lack of clarity over financing time limits will make it difficult for projects to raise financing from the fund. They see a need for more detailed information on how the fund functions.
Read about another major development in China’s green financing this year, the green bonds catalogue, on China Dialogue here.
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