ADB, Far East Horizon Sign Loan to Accelerate Transition Finance in the PRC
China, April 30 -- The Asian Development Bank (ADB) and Far East Horizon Limited (FEHORIZON) have signed a CNY709 million ($100 million equivalent) loan to support financial leasing to accelerate the green and low-emission transition of its client enterprises in the People's Republic of China (PRC).The financing is ADB's first transition finance loan in the financial leasing sector. It will help businesses reduce greenhouse gas emissions and contribute to long-term environmental and economic sustainability by expanding access and helping to deploy green technologies, such as smart and flexible energy systems, and high-energy efficiency solutions. The loan proceeds will be deployed through FEHORIZON's wholly owned subsidiary, International F...
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