Hohhot, EIB sign a loan agreement for energy programs

Hohhot and the European Investment Bank (EIB) signed a loan agreement worth 162 million euros ($ 198 million) to support energy efficiency investment projects in Beijing on Jan 12.

Zhang Jianmin, vice-executive chairman of Inner Mongolia autonomous region attended the signing ceremony.

The loan will provide funds for the government to funnel into renewable energy products and projects for replacing coal with electricity and natural gas in the city.

“As part of its climate strategy, the EU bank is committed to dedicating at least a quarter of its loans to strengthening environmental protection," said Jonathan Taylor, vice president at EIB.

He confirmed that EIB and Inner Mongolia had made significant achievements in environmental protection and ecological management.

The two sides agreed to hold in-depth discussions about the fight against climate change.

Liu Wenyu, vice-mayor of Hohhot and Ma Boguo, director of Hohhot Finance Bureau also attended the ceremony.