ADB funding to boost green transport efforts

The Asian Development Bank signed a deal on Monday to promote green bus transport in China through a $400 million financing package to Minsheng Financial Leasing Co Ltd.

The package is composed of a $200 million loan provided by the ADB, which represents the largest non-sovereign loan offered by the Manila-based international development finance institution to any financial institutions in the Chinese mainland to date, and a $200 million loan to be financed by commercial co-financiers.

At least a third of the loan from the ADB will be focused on China's central and western regions, including Gansu, Sichuan, Guizhou and Yunnan provinces.