China Green Bulletin: Foreign Banks Join PBOC Green Lending Program, Chongqing Is the Next Green Finance Hub
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Foreign banks join PBOC green lending program
The People’s Bank of China (PBOC) has included two foreign-funded banks in a lending program designed to reduce carbon emissions — Deutsche Bank (China) Co. Ltd. and Societe Generale (China) Ltd. are the first foreign institutions to get the approval. Under the program rolled out in November last year, lenders can apply for low-cost funding from the central bank after a green loan is made. The move will offer more opportunities for foreign lenders to take a part in and benefit from the country’s low-carbon shift.
Caixin Insight, the research arm of Caixin Global, is a strategic advisory helping clients assess policy risk and macroeconomics in China.
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