2017年CRI EIB to discuss new cooperation on green finance with China

 

The European Investment Bank has confirmed that it is in discussion with the People's Bank of China, to mobilize greater support for green finance.

The move was announcement a day ahead of a jointly-hosted high-level workshop between the two sides being held Wednesday, attended also by leading Chinese investors¹, representatives of financial institutions, and regulators.

CRI's Guan Chao caught up with Jonathan Taylor, Vice² President of the EIB and heard what he had to say.

Established in 1958, the European Investment Bank is the world's largest lender for climate-related investment.

Speaking at a news conference, the bank's Vice President Jonathan Taylor announced that Europe's long-term lending institution agreed to provide 298-million euros worth of support to eight Chinese provinces in 2016.

"Last year, we agreed to support new projects, from Heilongjiang to Hainan, build on a track record of more than 20 years, though banking³ investment in this country. And this included forestry⁴ projects in six locations. Energy efficiency schemes in Shandong. And biomass investment in Henan."

According to Taylor, China has become the key destination for EIB investment.

Speaking in an interview with CRI, he said the EIB's focus on China is supported by the shared goal of the two sides.

"The way I put it is more that the focus we are going to now is very much climate-related investment. On this scenario⁵, of course, China itself is very keen to take forward projects and take forward investment. So this is something where our shared purposes are dovetailing very clearly. I think that's the explanation why we are doing more business here."

Taylor is on a five-day visit to China, during which the EIB delegation⁶ will discuss on-going and new initiatives to strengthen support for climate-related investment with China's ministers and senior officials.

He revealed that the target of the discussions was to enhance the confidence of Chinese and international investors in green finance, through more consistent definitions and methodologies.

"I will be participating in this conference tomorrow with the People's Bank to look at green finance. Also I will be talking to colleagues in ministries⁷ and I will be talking to people from other NDBs, and I'll also in the next few days be travelling around China and talk to colleagues in the regions as well."

Figures show that 30-percent of EIB lending went beyond Europe last year, and that number is expected to grow by another 5-percent by the year 2020.

According to Taylor, they will also diversify⁸ their fund-raising channels outside Europe, including in Asia.

"Our funding is raised on the international capital market, and a good proportion of that, some 40-percent I believe is raised outside Europe. So we will continue to fund from a whole variety of sources, and that includes from Asian sources. So we will carry on doing that."

In May last year, the EIB and Asian Infrastructure⁹ Investment Bank reached an agreement on co-investing in major strategic projects and expand cooperation on joint-financing programs.

Taylor said the two public banks are working on individual projects, which are based on their common grounds.

"Clearly, these would be projects which met our shared policy goals. There's a strong congruence between our policy goals of course, 'cause the AIIB is pretty much a lean, clean, and green organization, (which) is the phrase which the president uses. And that goes very much with the green, the way we would like to operate, too."

The European Investment Bank has financed projects in China since 1995.

Last year, the EIB Group provided 84-billion euro to finance new investment around the world, including 19.6 billion for climate-related investment.

For CRI, this is Guan Chao.

1 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

2 vice   

n.坏事；恶习；[pl.]台钳，老虎钳；adj.副的

参考例句：

• He guarded himself against vice.他避免染上坏习惯。
• They are sunk in the depth of vice.他们堕入了罪恶的深渊。

3 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

4 forestry   

n.森林学；林业

参考例句：

• At present, the Chinese forestry is being at a significant transforming period. 当前, 我国的林业正处于一个重大的转折时期。
• Anhua is one of the key forestry counties in Hunan province. 安化县是湖南省重点林区县之一。

5 scenario   

n.剧本，脚本；概要

参考例句：

• But the birth scenario is not completely accurate.然而分娩脚本并非完全准确的。
• This is a totally different scenario.这是完全不同的剧本。

6 delegation   

n.代表团；派遣

参考例句：

• The statement of our delegation was singularly appropriate to the occasion.我们代表团的声明非常适合时宜。
• We shall inform you of the date of the delegation's arrival.我们将把代表团到达的日期通知你。

7 ministries   

（政府的）部( ministry的名词复数 )； 神职； 牧师职位； 神职任期

参考例句：

• Local authorities must refer everything to the central ministries. 地方管理机构应请示中央主管部门。
• The number of Ministries has been pared down by a third. 部委的数量已经减少了1/3。

8 diversify   

v.（使）不同，（使）变得多样化

参考例句：

• Our company is trying to diversify.我们公司正力图往多样化方面发展。
• Hills and woods diversify the landscape.山陵和树木点缀景色。

9 infrastructure   

n.下部构造，下部组织，基础结构，基础设施

参考例句：

• We should step up the development of infrastructure for research.加强科学基础设施建设。
• We should strengthen cultural infrastructure and boost various types of popular culture.加强文化基础设施建设，发展各类群众文化。