RMB six bln raised from green bonds in Bank of Chongqing all put into use

In 2018, Bank of Chongqing completed the issuance of its approved RMB6 billion green bonds, according to a recent publication of the bank. The funds raised were used specifically for green projects.

In 2018, Bank of Chongqing completed the issuance of its approved RMB6 billion green bonds, according to a recent publication of the bank. The funds raised were used specifically for green projects.

As of November 2019, Bank of Chongqing has used the raised funds on a total of 34 green loan projects, with a cumulative investment of six billion yuan, which means there is no balance left.

To be specific, the proceeds of the green bonds issued by the bank were invested in the five major areas, except the energy-saving industry. Among them, the expenditure on ecological protection and adaptation to climate change accounts for the largest proportion, 36.32%, that is 2.179 billion yuan.

Clean transportation comes next. Clean energy has the most projects, that is 11, accounting for 32.35% of the total number, followed by pollution prevention and clean traffic.

Source: Hexun.com

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/06/rmb-six-bln-raised-from-green-bonds-in-bank-of-chongqing-all-put-into-use/.

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