By Prensa Latina,
Manila : The Manila-based Asian Development Bank (ADB) said on Thursday it will lend USD 100 million to China to develop an energy project in Guangdong province.
The ADB press release explained that low-cost loan to the Guangdong provincial government will be used to provide credit to major energy consumers for projects to fit existing plants and buildings with energy-efficient technology.
This Chinese vast territory appears among those with most contribution to the Chinese economy with 12.5 percent of the Gross Domestic Product, equivalent to about 422 billion dollars.
According to the ADB, the project will include changing the type of lighting, using a more efficient motor or installing an energy-efficient air-conditioning system.
The cumulative effects of these small measures are expected to yield annual energy savings of 188 gigawatt-hour, significantly lowering consumption of coal in the fast-growing southern Chinese region.
The ADB, founded in 1966, has 64 countries and Asian regions as partners and its main objective is to contribute to the development of the region through granting aids and loans.