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China CDM Fund Management Center Signed“Green and Innovative Investment Business”Cooperation Agreement with Yunnan Provincial Department of Finance

2019-12-20

China CDM Fund Management Center Signed“Green and Innovative Investment Business”Cooperation Agreement with Yunnan Provincial Department of Finance and China Everbright Bank Kunming Branch

On December 4th, China CDM Fund Management Center (hereinafter referred to as “the CDM Fund”) signed “Green and Innovative Investment Business” Cooperation Agreement and the first cooperation project with Yunnan Provincial Department of Finance and China Everbright Bank CO., Ltd Kunming Branch (hereinafter referred to as “CEB Kunming Branch”) in Kunming, Yunnan Province. Director General of the CDM Fund Jiao Xiaoping, Deputy Director General Mo Xiaolong, Deputy Director General of Yunnan Provincial Department of Finance Zhao Xiaojing and Deputy Chairman Wangxun attended the signing ceremony.

The CDM Fund is a policy-oriented fund established upon national approval and operated in market fund approach, with principles of supporting national efforts in combating climate change and promoting the sustainable development of the economy and society. As a supplementary funding mechanism for national financial support to respond to climate change and energy conservation and emission reduction efforts, the CDM Fund give full play to the role of being the bridge between the government and the market, fiscal and financial, international and domestic affairs, and through clean development concessional loans (hereinafter referred to as the "clean concessional loan") and other paid-use ways to lead and leverage market funds to support green and cyclic low-carbon development.

By the end of this October, the CDM Fund has approved 298 clean concessional loan projects in 27 provinces, municipalities and districts in the nationwide, with a total loan of RMB 18.23 billion, and leveraged social capital of nearly RMB a hundred billion. Those projects cover industries and fields with great energy-saving potential and broad space for low-carbon development, such as natural gas, electricity, construction, green transportation, new energy and new materials.

The "green and innovative investment business" mainly invests in debts. In principle, the investment period of single project does not exceed 3 years. For projects with significant public welfare and long investment return periods, it can be appropriately extended to 5 years. The CDM Fund reviews projects and provides to the approved projects with policy concessional loan funds lower than the benchmark interest rate of the People's Bank of China during the same period. The interest rates for non-public welfare projects and public welfare projects are 20% and 25% respectively lower than the benchmark interest rate of the People's Bank of China during the same period.

According to the Agreement, the three parties will carry out project cooperation around ecological environmental protection, green and low-carbon development, and on the basis of drawing on the successful experience of the clean concessional loan, support the green and low-carbon development of Yunnan Province in an innovative way, and provide low cost financing for energy-saving and emission reduction enterprises. The three parties will give full play to their respective advantages and professional capabilities, deepen their cooperation in emission reduction of the market, form complementary advantages and share resources, so as to achieve win-win cooperation.

The Luxi-Mile-Kaiyuan Sub-Branch Natural Gas Pipeline Construction Project declared by the Yunnan Provincial Department of Finance is guaranteed by China Everbright Bank and is the first project of under the "green and innovative investment business". The project will provide clean natural gas as fuel to the downstream residents and decrease the amount of coal and oil used in the region, thus is of great significance for improving the atmospheric environment, optimizing the local energy mix, promoting the use of clean energy, and improving the life quality of local residents.

The CDM Fund will make more efforts to facilitate the green and low-carbon development of Yunnan Province, fuel the win of the Blue Sky Protection Campaign, and boost the national ecological civilization.

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