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Agricultural Development Bank of China
Local

Tibet issues more green credit

October 11, 2021


Abstract : Southwest China's Tibet Autonomous Region has channeled more loans to organic farming, solar energy and other green projects, and its balance of green credit has been on the rise, according to local authorities.

LHASA, Oct. 10 (Xinhua) -- Southwest China's Tibet Autonomous Region has channeled more loans to organic farming, solar energy and other green projects, and its balance of green credit has been on the rise, according to local authorities.

At the end of June, the region's green credit balance stood at 73.3 billion yuan (about 11.4 billion U.S. dollars), up 6.4 percent year on year, the Lhasa central sub-branch of the People's Bank of China said in a statement.

The figure accounted for 14.2 percent of the total balance of loans in Tibet.

To support the region's ecological protection, the Lhasa sub-branch has prioritized green finance and formulated a guideline on the development of green finance.

The sub-branch also instructed local banks to make innovations in green finance products and services, and strengthened the supervision of green credit to forestall related risks, according to the statement. Enditem

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Keyword: Tibet green finance

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