China Development Bank bolsters support for clean energy development in Q1

BEIJING - China Development Bank (CDB) has boosted its financial support for clean energy development in the first quarter of this year (Q1).

According to the CDB, it had issued 109 billion yuan ($17.12 billion) of loans in the energy sector to support the clean energy development and the green-oriented transition of traditional energy.

During this period, a total of 76.5 billion yuan of loans were granted for the development of clean energy including nuclear power, wind power and photovoltaic power.

Meanwhile, outstanding loans by the end of Q1 in the clean energy sector went up 48.8 billion yuan from the end of last year, according to the bank.