Climate loan will spur change in China, says EIB

The European Investment Bank hopes its loan to help China fight climate change will have a "demonstration effect" that could spur more green projects, Reuters quoted the bank's president as saying on Thursday.

The 500 million Euro (US$743 million) loan was signed at EU-China meetings in Beijing this week, which concluded with both parties agreeing to a dialogue on issues including climate change and the value of China's currency.

"It's a financial help, but this can be also a demonstration effect," EIB president Philippe Maystadt was quoted as saying.

"If we can show that really these kind of projects work and generate indeed interesting results in terms of reductions of CO2 emissions," he added, "I think this can be quite useful."

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By  dannyman