The Ministry of Finance (MOF) and the Asian Development Bank (ADB) signed a loan agreement for the green transformation demonstration projects in Northeast China's Heilongjiang province on December 1, 2022.

 

The loan totals 187.397 million euros, including the results-based loan valued at about 18.773 million euros and the investment loan valued at about 168.624 million euros. Both types of loan have a term of 25 years, including a grace period of six years. 

 

The project aims to facilitate sustainability and climate adaptation in the cities of Heihe and Suifenhe, and to support the former in implementing a plan to renovate old residential communities to promote low-carbon and green development.