ADB Supports Lending for Green Buildings in China
16 May 2011: The Asian Development Bank (ADB) is lending CNY 300 million in partial credit guarantees to Shanghai Pudong Development (SPD) Bank, to support private-sector financing of green buildings in China.
SPD Bank is the first Chinese partner under the ADB CNY 800 million Energy Efficiency Multi-project Financing Program aimed to promote lending to companies willing retrofit old buildings or build "green buildings" that consume less energy and water. SPD Bank is also the first Chinese bank to offer green credit solutions to companies. ADB partnered with Johnson Controls, who identifies buildings with energy savings potential while ADB shares the project credit risks with the financial institutions.
The ADB programme provides access to lending for companies interested in energy-efficient investments, which are normally difficult to obtain. [ADB Press Release]