China: IFC’s China Utility-Based Energy Efficiency Finance program
CHUEE supports marketing, development and equipment financing services to energy users in the commercial, industrial, institutional and multi-family residential sectors to implement energy efficiency projects in China. CHUEE brings together financial institutions, utility companies, and suppliers of energy efficiency equipment. The program is expected to promote energy efficiency, reduce pollution and greenhouse gas emissions, and expand lending to small and medium enterprises in China.
Date Implemented: 2006
Status: In Force; Voluntary
Funding Information: Among the first steps: IFC agreed to grant $1 million to Xinao Gas and to provide Industrial Bank with risk-sharing coverage of $25 million. The risk-sharing coverage will help Industrial Bank establish a loan portfolio of $58 million in energy efficiency equipment loans to small and midsize energy users in China. CHUEE is supported by grant funding from the Global Environmental Facility and Finland’s Ministry of Trade and Industry, and operates under the IFC Private Enterprise Partnership for China.
References: http://www.ifc.org/ifcext/chuee.nsf