The International Finance Corporation is planning to partner
more Chinese financial institutions to promote energy-efficient
schemes in the country.
The IFC is the private sector arm of The World Bank Group, which
is coordinating 30 projects nationwide between the Industrial Bank
and Chinese enterprises that are both commercially viable and
environmentally friendly. The bank extends loans to those firms for
their expansion.
"These projects can reduce 6 million tons of carbon dioxide
emission, and we have signed an agreement with the Bank of Beijing
for more such projects," said Calvin Xu, program manager of China
Utility-based Energy Efficiency of the IFC.
Xu said the Industrial Bank, based in East China's Fujian
Province, has extended 420 million yuan of loans to enterprises
engaged in energy efficiency programs. They come from such sectors
as cement, power and steel - all heavy energy consumers.
An example of enterprises that have benefited from the IFC
program and in return contributed to a cleaner environment is
Deqingyuan, a Beijing-based egg producer.
Started in 2000 with meager funding of 500,000 yuan, the company
supplies 70 percent of organic eggs in Beijing.
"In terms of commercial and social responsibility, Deqingyuan is
really a model," said Michael Ipson, IFC country manager of China
and Mongolia.
(China Daily October 24, 2007)
