KfW to provide UR 150M loan to People’s Republic of China to finance measures to reduce emissions

• A loan of EUR 150 million for the People’s Republic of China
• Improvement in general environmental conditions
• Reduction in emissions from industry as well as the energy, transport and agricultural sectors

Frankfurt am Main, 28-Mar-2016 — /EuropaWire/ — KfW has today provided the People’s Republic of China with a loan from KfW funds equating to EUR 150 million, as part of the financial collaboration with developing and emerging countries. It will be used to finance measures to reduce emissions in the key sectors of industry, energy, transport and agriculture, improve the general environmental conditions and mitigate the socio-economic effects triggered by these measures. This includes, for example, recirculating the capacities for steel, cement and glass production, reducing coal consumption, promoting alternative and renewable energies and the public transport system, as well as expanding and developing comprehensive monitoring and analysis systems. The project is part of an air purification programme in the Northern China regions of Peking, Tianjin and Hebei, where around 110 million people live.

“It will serve as a pilot project and open up the opportunity not only to directly influence the political dialogue with regard to general environmental conditions but also to establish a new financing mechanism with the financial collaboration between the People’s Republic of China and Germany,” says Dr Norbert Kloppenburg, Member of the Board of Managing Directors at KfW Group. “The project also plays a huge role in climate and environmental protection and supports the German and Chinese governments with the improvement of the conditions for sustainable development in a region that is severely affected by pollutants,” explains Dr Kloppenburg.

The project will be financed together with the Asian Development Bank/ADB (USD 300 million) and is part of the German-Chinese cooperation on climate protection. KfW has previously financed environment- and climate-friendly solutions and technologies in the greater Peking area, such as desulphurisation plants. German suppliers also played a major part in this and other projects. The same is also expected of this recently agreed programme.

Further information on KfW Development Bank is available at

www.kfw-entwicklungsbank.de

Contact

Alia Begisheva
Contact for journalist

KfW Bankengruppe
Palmengartenstr. 5-9

60325 Frankfurt am Main
Germany

Phone
+49 69 7431-4126
eMail
Alia.Begisheva@kfw.de