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China CDM Fund Management Center Signed Green Innovation Investment Cooperation Agreement with Department of Finance of Jiangsu Province and Industria

2020-05-08

China CDM Fund Management Center Signed Green Innovation Investment Cooperation Agreement with Department of Finance of Jiangsu Province and Industrial Bank Nanjing Branch

Recently, China CDM Fund Management Center (hereinafter referred to as “the CDM Fund”) signed Green Innovation Investment Cooperation Agreement with Department of Finance of Jiangsu Province and Industrial Bank Nanjing Branch. The signing ceremony was held as “Cloud Signing” through video connection with Beijing and Nanjing meeting venues.

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 sustainable development of the economy and society. As a supplementary funding mechanism of national financial support to green and low-carbon development, the CDM Fund gives 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 April 2020, the CDM Fund had implemented 317 clean concessional loan projects in 27 provinces, municipalities and districts of the country, with a total loan of RMB 19.4 billion, and leveraged social capital of nearly a hundred billion RMB.

The “Green Innovative Investment Business” is an innovation based on years of experience in traditional clean development concessional loan model of the CDM Fund in cooperation with provincial financial departments. It introduces financial institutions to share risks and is jointly initiated by three parties to support local green low-carbon development, energy conservation and emission reduction, and other project-based debt investment businesses that are conducive to combating climate change.

According to business model determined by the Agreement, the Department of Finance of Jiangsu Province will be responsible for organizing project declaration, the CDM Fund provides policy concessional funds, and the cooperative bank issues demand financing guarantees for projects, while project enterprise in Jiangsu obtains concessional loans.

The cooperation of Green Innovative Investment Business is landed in Jiangsu Province signifies that under the new situation, the CDM Fund, Department of Finance of Jiangsu Province and Industrial Bank Nanjing Branch will continuously strengthen cooperation to build up a mechanism conducive to Jiangsu’s efforts in energy-saving and emission reduction, as well as green and low-carbon industry development. Focusing on ecological environment protection, concerned parties will strive to bring respective advantages and professional capabilities into play to jointly boost the low-carbon transformation and development of Jiangsu Province.

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