DBS secures China central bank funding for lending to green projects

PBOC will provide financial institutions with funds equal to 60% of a loan's principal.

DBS China has been chosen by China’s central bank to receive low-cost funding for lending to sustainable development projects.

Under the Carbon Emission Reduction Facility, the People’s Bank of China (PBOC) will extend low-cost funding to DBS China. DBS China will then use the funding to offer low-cost loans to fund sustainable development projects. Key sectors targeted include clean energy, energy saving, environmental protection, and carbon emission reduction technologies.

ALSO READ: DBS Hong Kong offers two-in-one instant loan and credit card combo

PBOC will provide financial institutions with funds equal to 60% of a loan's principal at an annual interest rate of 1.75%. It will also guide financial institutions to provide carbon emission reduction loans to enterprises in key areas of decarbonisation, on the premise of independent decision-making and risk-taking.

As of September 2022, loans valued at over RMB400b have reportedly been made by PBOC via the facility.

Follow the link for more news on

DBS

People's Bank of China

Also Read

Tighter policies drag South Korean household loan growth in September

SME loans in Taiwan rose in August

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit