Mon 30-01-2023 11:51 AM
BEIJING, 30th January, 2023 (WAM) — China will continue to leverage three structural monetary policy tools, including the carbon-reduction credit facility, amid efforts to guide financial institutions to beef up support for green development and other areas, Xinhua news agency quoted the country’s central bank as saying.
The credit facility for supporting carbon emission reduction will extend to the end of 2024, with some local and foreign financial institutions being included to deepen international cooperation on green finance, according to a circular recently issued by the People’s Bank of China.
The special re-lending tool for promoting the clean and efficient use of coal will be implemented by the end of 2023 to boost the transformation toward green and low-carbon development and to achieve carbon peaking and neutrality goals.
Rola AlGhoul/ Esraa Esmail