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World Bank Grants US$441 Million Loan To China's Energy Sector
June 2, 2008 |
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The World Bank has approved three energy sector loans, totaling US$441 million, for China.
According to local media reports, the three projects are energy efficiency financing, desulfurization in Shandong and infrastructure in medium-sized cities in Liaoning, respectively. The loan is granted to these three projects with the purpose of helping China promote the more efficient use of energy and reduce the emissions from power plants. The loan accounts for about one-third of the World Bank's total loan scheduled for China in 2008.
The goal of the energy efficiency financing project is to help China's Export-Import Bank, Huaxia Bank and other Chinese commercial banks develop sustainable energy-saving loan services and support energy-saving investment projects of large and medium enterprises. The purpose of the Shandong smoke desulfurization project is to help Shandong Province reduce sulfur dioxide emissions in its thermoelectricity industry and the infrastructure project in cities of Liaoning focuses on transforming the old and low-efficiency central heating supply system that seriously pollutes the environment of the Province.
Since it started its first energy-saving loan and global environment fund program in China in 1998, the World Bank has supported a handful of clean energy and efficiency projects in China, including hydroelectricity, wind power, biomass, solar power and energy efficiency projects in the industrial and construction industries.
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