A delegation led by Magdalena Alvarez Arza, the Vice President of European Investment Bank visited China from December 2 to 5. After investigating the Phase I Gancheng Wind Power Project in Dongfang City, Hainan Province funded by the climate change framework loans of the European Investment Bank on the morning of December 4, the delegation returned back to Sanya on the afternoon and was warmly received by the Sanya City Government.
The European Investment Bank (briefly as EIB) is a joint venture financial organization by members of the European Economic Community. The major prospective borrowers of this bank are undeveloped regions among the members, and countries other than the members of EIB but having close relations or cooperation agreements with the EIB.
The EIB carried out the lending activities to China early in 1998. It has committed to provide loans for seven projects in China so far with the total amount about €1,500,000,000, among which €500,000,000 is for the China Climate Change Framework Project, covering 12 provinces in China, such as Guangdong and Hainan.
The Ministry of Finance of PRC signed a €25,000,000 loan and lending agreement with Hainan Province about the Gancheng Wind Power Project in Dongfang City, Hainan on January 14, 2010.
SOURCE: en.hainan.gov.cn
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