China Development Bank Commits to Support for Green, Low Carbon Transit During 14th Five Year Plan

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One of China’s big three policy banks has committed to the provision of financial support for the development of green, low-carbon transit projects and infrastructure.

China Development Bank (CDB) recently issued its “Work Plan for China Development Bank to Support Green, Low Carbon Development in the Transit Sector” (国家开发银行支持交通领域绿色低碳发展工作方案), calling for “the use of large-sum, long-term stable financing to drive the comprehensive green, low-carbon development of transit and delivery.”

During the period of China’s 14th Five Year Plan (2021 – 2025), CDB said it will create a major project database, engage in the innovation of financial support models, improve differentiated support policies, and expand the issuance of green finance bonds, with an especial focus on China’s carbon mitigation targets of achieving carbon neutrality by 2030 and peak carbon by 2060.

CDB also plans to “continually optimise the loan coverage scope, and provide high-quality, high-efficiency developmental financial services to the green, low-carbon development of the transit sector.”