China Green Bulletin: China Pledges $31 Billion of Credit to Back Clean Utilization of Coal

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China pledges $31 billion of credit to back clean use of coal

Nov 17 — The People’s Bank of China (PBOC) will establish a special relending facility of 200 billion yuan ($31.3 billion) to support the clean use of coal, including cleaner methods of coal utilization, such as smart mining, more-efficient coal-fired power plants, clean residential and industrial heating, and development and utilization of coalbed methane. An expert said that the clean coal loans and carbon-reduction support mechanism launched earlier this month will act as two pillars at the central bank level to promote low-carbon development in China.