HOHHOT, July 29 (Xinhua) -- The sixth Kubuqi International Desert Forum kicked off on July 29 in the Kubuqi desert in northern China’s Inner Mongolia Autonomous Region. Zhou Qingyu, vice president of the China Development Bank (CDB), noted in the forum that CDB will play a pivotal role in removing financial bottlenecks through development finance solutions in a bid to help build a green Belt and Road (B&R).
According to Zhou Qingyu, some regions along the Belt and Road are dwarfed by rare rainfall, widespread desert and fragile ecosystem, resulting in strong appeal for ecological governance and restoration. Hence, development finance can play a significant role in building a green Belt and Road.
Zhou Qingyu noted that CDB will adhere to “green credit,” focus on financing plans and programs for ecological restoration, follow international practices and market rules, and strive to improve market mechanism and credit environment in the project operation, aiming to help lower financing risks and make the development of a green Belt and Road achieve abundant fruit.
As the world’s sole large-scale international forum dedicated to promoting desertification control and eco-friendly economic development, the forum calls for combating desertification through cooperation among countries along the Belt and Road. It highlights desert ecology-based technological innovation, green finance, desertification governance and poverty eradication.
CDB has been officially defined as a development finance institution in March 2015.
It provides medium- to long-term financing facilities that serve China’s major long-term economic and social development strategies. (Edited by Zhang Lu, Zhang Yuan, zhangyuan11@xinhua.org)
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