EIB Grants Climate Mitigation Loan to China
3 December 2010: The European Investment Bank (EIB) has granted a 500 million euro loan to China to fund projects supporting climate change mitigation.
The Climate Change Framework Loan II (CCCFL II) is a multi-investment scheme under which the EIB will select individual climate change mitigation projects. The EIB will perform due diligence to ensure the projects' economic and financial viability, technical adequacy and compliance with the Bank's environmental and social requirements. The framework loan will be made up of a maximum of 15 projects in sectors such as: renewable energy based on onshore wind, biomass, solar (thermal and photovoltaic), geothermal and small hydro; improvement of energy efficiency and reduction of greenhouse (GHG) emissions on industrial sites; district heating contributing to energy efficiency and the use of renewable energies. [EU Press Release]