China sets up $31 billion financing facility for ‘clean coal’

peoples-bank-of-china
The People's Bank of China

China’s State Council is setting up a relending facility of 200 billion yuan ($31 billion) to finance activities related to clean coal.

The political body announced the move after a meeting held on November 17. The People’s Bank of China uses relending facilities to direct funds for special purposes. Its relending facility for small and medium-sized enterprises received 300 billion yuan in September this year.

Banks nationwide will grant loans for eligible projects charging interest in line

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