AIIB Approves 250 Million Dollar Loan to "Assist" PetroChina to Change Gas

The Asian Infrastructure Investment Bank (AIIB) announced Monday that it has approved a $ 250 million loan to build a natural gas pipeline network in Beijing covering some 510 villages and connecting 216,775 households. This is the first investment by the AIIB in China. The entire project is expected to be completed by 2021.

A press release posted on the AIIB website said the project is expected to reduce Beijing's use of 650,000 tons of standard coal a year, reducing 595,700 tons of carbon dioxide emissions, 3,700 tons of particulate matter, 1,488 tons of sulfur dioxide emissions and nitrogen oxide emissions 4,442 tons.

"China's commitment to reducing its reliance on coal will change people's lives and improve the environment. Our investment in this project is in line with its ambitious plan," said Jin Liqun, the head of the AIIB. (Finish)