French Development Agency signs green finance agreement with Chinese bank

Source: Xinhua| 2019-06-04 20:49:14|Editor: Li Xia
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NANJING, June 4 (Xinhua) -- French Development Agency (AFD), a public financial institution headquartered in Paris, signed a cooperation agreement with China's Bank of Nanjing (NJCB) to help boost the green finance sector, according to the provincial state-owned assets supervision and administration commission Tuesday.

The French Development Agency will provide non-sovereign loans to the bank headquartered in east China's Jiangsu Province, the first of its kind in China that signed such a loan program with AFD.

AFD will offer special funds and technical support for NJCB in terms of green finance services, said the commission.

The Bank of Nanjing is one of China's earliest financial institutions that offers green finance services and has expanded its financial support for green industries and the fields of energy efficiency and environmental protection over the years, said Hu Shengrong, chairman of the NJCB.

The bank's progress and efforts in green finance services are the reasons why AFD seeks cooperation with it, said Hu.

AFD wants to seek partnership with China's commercial banks via a non-sovereign loan project to support the country in improving its energy efficiency, tackling climate change and reducing greenhouse gas emissions, according to AFD.

AFD, as a public institution that implements the policy defined by the French government, has worked to fight poverty and promote sustainable development in 115 developing countries so far.