ADB to support green buildings

The Asian Development Bank (ADB) yesterday launched an 800 million yuan program to support lending to energy-efficient building projects in China.

Partnering with Standard Chartered Bank (China) and Johnson Controls, a world-leading energy management company, ADB will extend partial credit guarantees for loans for retrofitting existing buildings to save energy, as well as for the construction of new energy-efficient ones.

Robert Wihtol, country director of ADB's China Resident Mission, said that given China's rapid urbanization, energy efficiency in buildings will have a long-lasting and cumulative effect.