EIB & China's central bank to boost green bonds

CNC
Added On March 25, 2017

The European Investment Bank will join China's central bank to co-launch a a study into the standards around green bonds. The white paper hopes to boost the development of the international market.
 
The Vice President of the European Investment Bank Jonathan Taylor made the remarks in an exclusive interview with CNC.
 
He said the EIB and the People's Bank of China will issue a white paper on the green bonds standards in the second half of the year, aiming to improve the confidence of the international investors. 
 
SOUNDBITE(English): JONATHAN TAYLOR, EIB Vice President
"Green bonds are an area we are pioneers in the issue of green bonds and we initiated first in 2003. And of course the People's Bank of China took a very strong lead in developing the green bond market here in china in the last year. So we say it's a very natural fit we should work together to try to reach a single coherent approach which is the best way which we can have to develop the green bonds as an asset across the world.
 
Taylor said the study will include the definition of green finance, the approval of green bonds,principle of project selection, expected revenue.
 
Official data shows that the EIB lent 300 million euros to China last year.
 
The Vice President says the amount of loans to China will increase to 500 million euros for this year, and for next year also.
 
China has the world's largest green bond markets. 
 
According to Wind Info, a Shanghai-based financial information provider, more than around 30 billion U.S. dollars worth of green bonds were issued last year.