The prospects of an international deal on new climate financing mechanisms received a boost earlier today, when the European Investment Bank (EIB) announced it has granted €500m to China to support the development of low-carbon projects.
The loan, which was signed off at a ceremony in Beijing, represents the second major clean tech loan provided by the EIB to China.
The loan has been earmarked for up to 15 projects in a wide variety of sectors, including onshore wind, biomass, solar, geothermal and small hydro energy projects, as well as initiatives to improve energy efficiency and reduce greenhouse gas emissions on industrial sites.
For more: EU hands China €500m clean tech loan - 03 Dec 2010 - News from BusinessGreen
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