China works on new monetary policy facility for green projects
Â© Reuters. FILE PHOTO: The headquarters of the People’s Bank of China (PBOC), the central bank, is pictured in Beijing, China on September 28, 2018. REUTERS / Jason Lee / File Photo
GLASGOW (Reuters) – China’s central bank governor Yi Gang said on Wednesday that Beijing was working on a new monetary policy facility to provide low-cost funds to financial institutions to support green projects.
Addressing a UN COP26 climate summit via a video message, Yi said the People’s Bank of China (PBOC) and the European Union will soon provide a common understanding of what a green investment is.
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