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China working on new monetary policy facility for green projects

by Mike Robinson

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© Reuters. FILE PHOTO : The People’s Bank of China’s (PBOC) headquarters is pictured in Beijing on September 28, 2018. REUTERS/Jason Lee/File Photo

GLASGOW (Reuters – China’s central banking governor Yi Gang stated Wednesday that Beijing was developing a new monetary policies facility. This will provide low-cost funding for financial institutions, in support of green projects.

Yi addressed COP26 Climate Summit via video message. He stated that the People’s Bank of China and the European Union will soon have a common understanding of green investments.

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