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ADB provides $600M for eco-friendly projects in China
October 1, 2012
ADB provides $600M for eco-friendly projects in China
The Asian Development Bank (ADB) is providing USD600 million for a package of green projects that will transform waste into clean energy, reduce CO2 emissions, expand eco-friendly transport, and protect fragile wetland areas in fast-growing second-tier cities in the People’s Republic of China (PRC).
“These four projects support PRC’s transition to a lower-carbon growth path built on a long-term commitment to green urbanization, better energy efficiency and environmental preservation,” said Robert Wihtol, Director General of ADB’s East Asia Department. “We still have a long way to go but with forward-looking planning and investment, the Chinese cities of the future can have clean air, blue skies, clean water and more green areas.”
The USD600 million is broken down into several projects: USD 200 million for the development of biomass power plants, USD 150 million for district heating systems, USD 100 million for infrastructure development for pedestrians and bicycle riders, and USD 150 million to facilitate sustainable urbanization of emerging towns.
Read more at CleanBiz.
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