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2016-06-08
On June 7, 2016, China CDM Fund Management Center approved the concessional loan applications of Xinyang Shiligang Forest Products Development Co., Ltd. for the high quality oil-tea camellia plantation covering 10,000 mu (equal to around 667 hectares), and Zhumadian City Public Transportation Co., Ltd. for the green bus project. The two projects will receive a total of 87 million yuan of concessional loans, which will leverage 178 million yuan of private funds. They are estimated to reduce carbon emission by 7,749tCO2e annually. The loan interest rate is 15% lower than the loan interest rate directed by the People’s Bank of China for the corresponding period on the date of the execution of the contracts.
(1) Xinyang Shiligang Forest Products Development Co., Ltd.: the high quality oil-tea camellia plantation covering 10,000 mu (equal to around 667 hectares)
This is the third forest carbon-sink project so far that has been approved by CDM Fund Management Center. Apart from the unique carbon sink function, the oil-tea camellia plantation can also purify water, reduce noise and capture dust, demonstrating great ecological value. The project promotes the development of the modern forestry and contributes to the adjustment of the cooking oil consumption patterns of Chinese people. Therefore, it will not only improve the added value of forest by-products, but also promote the industrialization and modernization of agriculture. Moreover, the project is a typical example of poverty alleviation. It will create over 2,000 jobs for the local community, helping peasants to get rid of poverty and become better off and contributing to the construction of a new socialist countryside.
(2) Zhumadian City Public Transportation Co., Ltd.: the green bus project
Currently, China is vigorously promoting blade electric vehicles (BEV), an environmental-friendly and low-carbon public transport means that features low noise and zero emission. The green bus project in Zhumadian will use blade electric buses in the urban public transportation to reduce exhaust emission and improve the air quality. The green buses also offer an energy-saving and environmental-friendly way of traveling to the citizens and will enhance their awareness of environmental protection.
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