China's Jiangsu launches 'green loans' to fund pollution fight

Reuters    Translate This Article
4 July 2018

On 4 July 2018 Reuters reported: Eastern China's Jiangsu province, a major manufacturing region in the Yangtze river delta, has launched an 8 billion yuan ($1.2 billion) environmental credit fund to help promote green development and fight pollution, the local government said. Jiangsu, which neighbors China's financial center of Shanghai, has been one of the focal points of the country's environmental clean-up efforts since 2013. Global Good News service views this news as a sign of rising positivity in the fields of science and government, documenting the growth of life-supporting, evolutionary trends.

... The new fund will be used to help finance environmentally friendly projects, with each approved project allowed to borrow a maximum of 20 million yuan.

... In a document published last month, China's cabinet, the State Council, said it would devise new policies to encourage the development of green financing, and it also promised to establish a state 'green development fund'.

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