China to launch Clean Development Mechanism Fund - Xinhua

China to launch Clean Development Mechanism Fund
www.chinaview.cn 2007-02-10 09:42:17

BEIJING, Feb. 10 (Xinhua) -- China will launch a Clean Development Mechanism Fund
(CDMF) in March to help finance climate change projects, according to sources with the
Ministry of Finance.

Ju Kuilin, a senior official with the Ministry of Finance, said the fund has been approved
by the State Council, or China's cabinet.

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The fund will collect some carbon credit transaction income, donations from international
financial organizations and individuals as well as other sources approved by the State
Council.

According to Ju, the fund has got a 6.4-million-U.S.-dollar loan from the World Bank, and
Europe will pour in loans worth a further 500 million euros.

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China and the United Nations plan to set up a carbon trading exchange in Beijing, making
the city an important center for multi-billion-dollar trade in global carbon credits.

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