China's policy bank issues 15b yuan of green bonds

BEIJING - China Development Bank, one of the country's policy banks, on Wednesday issued 15 billion yuan ($2.16 billion) worth of green bonds to global investors to support the ecological protection of the Yangtze River.

Funds raised by the bond sales will be used to finance green projects such as urban rail transit projects, sewage treatment and pipe network projects, and rural environment improvement projects along the Yangtze River.

After the completion of these projects, 25,200 tonnes of carbon dioxide will be cut every year, and 12,000 tonnes of standard coal will be saved.

So far, the bank has issued a total of 171 billion yuan of green bonds.