China Development Bank issues 15b yuan of bonds for green transportation projects

BEIJING -- The China Development Bank, one of the country's policy banks, has issued a total of 15 billion yuan ($2.36 billion) of bonds to support green transportation projects.

With a three-year maturity and a fixed interest rate of 2.19 percent, the bonds were issued in the interbank bond market to provide financial support mainly for green projects in the field of public transportation facilities.

It is estimated that the fundraising project could help reduce carbon dioxide emissions by around 21,500 tons and save about 10,500 tonnes of standard coal every year.

So far, the bank has issued green bonds worth about 105 billion yuan in total, with the balance of such bonds standing at around 95 billion yuan, the bank said.