The New Development Bank (NDB) has signed Renminbi (RMB) 1.2 billion syndicated loan agreement with Bank of China and Haitong Unitrust International Financial Leasing (HUIFL) to finance green leasing sub-projects.
The project are to support China’s environmental goals.
Under this agreement, NDB will contribute RMB 713.32 million, Bank of China will provide RMB 500 million, and HUIFL will use the funds for projects in wastewater treatment, solid waste management, and metallurgical waste gas utilisation.
All eligible projects will be located outside China’s four Tier-1 cities, directing investment to less-developed regions.
Vladimir Kazbekov, NDB Vice-President and Chief Operating Officer, said this marks the first time NDB has mobilised private capital in a syndicated operation.
“This initiative addresses the need for climate resilience and environmental protection while increasing investment in less-developed regions,” said Kazbekov.
Picture: PMI