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Days ago，Green Climate Fund (GCF) approves US$100 million to support Asian Development Bank (ADB) projects in Shandong，This project will help establish the Shandong Province Green Development Fund，First attempt to engage the private sector for climate change mitigation and adaptation、Institutional and Commercial Financing。This is also the first GCF fund received by China。
GCF is a global fund established to support developing countries in coping with the challenges of climate change，Headquartered in Songdo, South Korea。This fund was established in 2010 by 194 national governments，seabet online sports bettingTo seabet live casinolimit or reduce greenhouse gas emissions in developing countries，Promote climate finance flows to invest in low-carbon and climate-resilient development projects。ADB became the GCF executing agency in 2015。
Green development is an important symbol of high-quality development。current，Shandong is leading a major project to convert old and new kinetic energy with the concept of green development，Supporting development in this area through international cooperation，Not only can it promote the development of Shandong in this field，It can also provide a model for national green development。
It is reported，Establishment of Shandong Green Development Fund，Will help leverage climate finance for several climate sub-projects。ADB approved a loan of US$100 million equivalent in euros for this fund project on September 26。KfW has tentatively agreed to provide additional co-financing，The French Development Agency will also submit the joint financing project to the board of directors for approval in December。
The total fund size is 10 billion yuan，The first phase scale is 1.7 billion yuan。Among them，Use the ADB loan of US$100 million equivalent in euros，The Ministry of Finance is responsible for unified financing and borrowing on behalf of the country、Sovereign foreign debt guaranteed by the Provincial seabet online casinoDepartment seabet online casinoof Finance，Term is 20 years (grace period is 15 years)，This has also become the first green fund in the country to be established at the provincial level using loans from international financial organizations。
ADB East Asia Public Administration、Fan Xiaoqin, Director of the Financial Sector and Regional Cooperation Office said，“Shandong was selected as a pilot region to demonstrate new ways of transitioning to a low-carbon and climate change-resilient growth path，This approach can be replicated in other provinces and regions in China。ADB participates in Shandong Green Development Fund，Projects that can attract the attention of other financial parties to improve Shandong’s climate adaptability and people’s livelihood。”
"Current，Some areas of green development are due to immature technology、Low return on investment，So，Funds have become an important factor restricting development。"Introduced by Liu Xingyun, Director of the Provincial seabet online casinoDepartment of Finance，The establishment of the fund realizes the organic combination of financial instruments and green development，Compared to the 5 to 6-year grace period of other loans，The grace period of this project has been greatly extended，Conducive to maximizing the benefits of funds，Support our province’s aggressive climate policy goals。
As one of the initiators and establishers of the fund，Zhang Bing, the green fund preparatory team of Shandong Development Investment Holding Group, told reporters，The fund innovates the way international financial organizations use funds，Will be invested in direct investment and sub-fund investment，Focus on energy conservation and emission reduction、Environmental protection and governance、Clean energy、Circular Economy、Green manufacturing and other fields，It is expected to reduce carbon dioxide emissions by 25 million tons during the project implementation period，Benefiting 10 million people directly or indirectly。
Source: Dazhong Daily Client
