BEIJING: China received around 401 million euros (US$439 million) in loans this year from the European Investment Bank, the Ministry of Finance said yesterday.
The loans from the EIB were invested in 10 projects in China this year, mainly in forest development, energy conservation and environmental protection, the ministry said.
The projects are key to improving the environment and boosting sustainable development of the economy, the ministry said.
The EIB, the European Union’s public financing institution, was set up in 1958, and is responsible for long-term investment loans to more than 130 countries and regions. It mainly finances transport, communications and energy projects.
China received its first loan from the EIB in 1995 to bolster an oil and natural gas exploration project in the East China Sea.
