China Development Bank ups loan support for clean energy

BEIJING - China Development Bank has boosted its financial support for energy development in the first three quarters of this year.

The policy bank issued 406.9 billion yuan ($57.2 billion) of loans in the energy sector between January and September to support clean energy development, energy supply guarantee, and clean and efficient coal use.

Among them, 248 billion yuan of clean energy loans were issued, strongly supporting the green and low-carbon energy transition.

Since the bank set up special loans to guarantee energy supply in September last year, a total of 214.3 billion yuan in loans had been issued by the end of this September.