CDB issues first securitized products of green credit assets
BEIJING - China Development Bank (CDB), the world's largest development finance institution, issued its securitized products of green credit assets on the interbank market for the first time.
The security totals 3.14 billion yuan ($453 million), and the funds collected will be reinvested into the green sector.
Over the past few years, CDB has boosted its green finance through revamping the green credit system, increasing loans and issuing green bonds.
By the end of October, CDB's green loan balances exceeded 1.8 trillion yuan, which accounted for 17 percent of its total loans. The money was mainly applied to control water pollution along the Yangtze River, prevent air pollution, boost green industry and enhance green communication.
Up until now, the CDB has issued more than 35 series of securitized products of credit assets worth of 315.2 billion yuan.
