Bank of China was on the green path

The Central Bank of China announced that it will expand three lending instruments for carbon reduction as part of its efforts to support green development.

According to a statement, the People’s Bank of China (PBOC) announced that it will extend the lending facility to support the reduction of carbon emissions until the end of 2024.

The bank will use the refinancing tool for clean and efficient use of coal by the end of 2023.

China’s central bank said: “While ensuring the security of energy supply, we will support the economy to transform into a green and low-carbon economy, a move to help achieve the goal of carbon neutrality in a scientific and orderly manner.”

The People’s Bank of China announced that it will extend the refinancing facility for the transportation and logistics sectors until the end of June 2023.