May 05, 2022 05:21 AM

PBOC Backs Coal Industry With $15 Billion of Credit

What’s new: China’s central bank will provide 100 billion yuan ($15 billion) of credit lines to support coal development and storage as the country seeks to secure its energy supply, the People’s Bank of China said Wednesday.

The credit lines will be issued through relending facilities to enhance safe coal production and reserves, including modern coal mine construction, green and efficient technology application, intelligent mine construction and secured supply to coal-fired power plants, the People’s Bank of China (PBOC) said.

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