The People's Bank of China (PBOC) will offer cheaper funding to financial institutions which provide green loans, according to a statement released by the Chinese central bank on Monday November 8.
The central bank will lend money to financial institutions to help them support firms which are working toward China's energy transition goals, the statement read.Financial institutions can borrow from PBOC at an interest rate of 1.75% for 60% of the required funds, and then provide loans with the...