ADB Sets for Clean Energy Bonds

The Asian Development Bank (ADB) plans to issue its first Clean Energy Bond to support its clean energy projects in Asia and the Pacific.

The Asian Development Bank (ADB) said Thursday it plans to issue its first clean energy bonds to raise funds from renewable projects in developing countries in Asia including China.

Senior energy expert with the ADB Shen Yiyang told an economic forum in Beijing the insurance of clean energy bonds, with the Japanese government as the investor, would aim at providing long-term low-interest loans to companies in developing countries, helping them upgrade with energy-saving technologies.

At the same time, the bank would give priority to low-carbon projects in the rural areas and western part of China that are economically underdeveloped.

Some of the clean-energy projects in China, such as the environmental friendly battery project, are drawing much attention from the Bank, Mr. Shen added.

The issuance of clean energy bonds is still in planning stage, Mr. Shen said, without disclosing the exact time.

The Asian Development Bank is a regional development bank established in 1966 to promote economic and social development in Asian and Pacific countries. It has approved hundreds of projects worth over 12 billion U.S. dollars in China so far.