ADB has just approved EUR458 million loan aimed at accelerating investments in pollution and GHG reduction projects. The loan approval coincides with the year’s worst smog conditions in China’s northeast. ‘Red alert’ warnings were issued in cities earlier this week setting off emergency measures including mandatory industry shutdowns, school closures, and traffic bans. The government is also urging the public to stay indoors because prolonged and consistent exposure to particulate matter (byproducts of industrial processes and reactions in atmospheric sulfur and nitrogen oxides) can result in serious health problems. It is estimated that each year particulate matter pollution results in 1 million premature deaths in China alone. The loan will leverage much needed investments in clean energy technologies for industry, small and medium enterprises, and power plants as well as in renewable energy. More information on the ADB loan and DHInfrastructure’s involvement can be found in the links below:
Press release: ADB Approves Second Loan of €458 Million to Help PRC Improve Air Quality in Greater Beijing Area