China Development Bank, one of the country’s policy banks, on Wednesday issued $2.16 billion (15 billion yuan) worth of green bonds to global investors.
The bond issue is to support the ecological protection of the Yangtze River, Xinhua News Agency reported.
Funds raised by the bond sales will be used to finance green projects such as urban rail transit projects, sewage treatment and pipe network projects, and rural environment improvement projects along the Yangtze River.
After the completion of these projects, 25,200 tonnes of carbon dioxide will be cut every year, and 12,000 tonnes of standard coal will be saved.
So far, the bank has issued a total of 171 billion yuan of green bonds.
Companies and governments around the world have of late been issuing green bonds in line with their efforts to cut carbon emissions.
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