The FINANCIAL — SHANGHAI, PEOPLE’S REPUBLIC OF CHINA – The Asian Development Bank (ADB) is providing CNY300 million in partial credit guarantees to Shanghai Pudong Development Bank, or SPD Bank.
That will support private-sector financing of energy-efficient buildings across the People’s Republic of China (PRC).
SPD Bank is the first Chinese partner in a program set up by ADB to encourage financial institutions to lend to companies seeking to retrofit old buildings so that they use less energy or to construct so-called green buildings which are designed, constructed, and maintained to optimize energy and water efficiency over the buildings’ lifespan. Retrofitting buildings typically leads to energy savings of 20%-40%.
Source: IDB
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