Under the carbon emission reduction facility , the first of its kind to be rolled out by the People's Bank of China , financial institutions can apply for low-cost funding to back the loans they issue to finance companies' emissions reduction efforts.
The bank has also officially rolled out low-cost loans to support companies' efforts to use clean coal, Sun Guofeng, head of the PBOC's monetary policy department, said a news conference. He did not say how much has been provided already. But banks are required to certify the loans have been issued to firms that can help the economy adopt cleaner energy or improve energy efficiency.
Source: Loan News Today (loannewstoday.net)
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