IB has successfully implemented its inaugural “hazardous waste disposal volume”-linked green finance loan in Sichuan. This pioneering loan specifically supports the construction of the Yibin hazardous waste disposal project (Phase II), furthering the advancement of the “waste-free city” initiative.
The concept of a “waste-free city” is a critical component of the vision for a beautiful China. The Guidelines on Comprehensively Promoting the Development of a "Beautiful China" by the CPC Central Committee and the State Council in January 2024 emphasized the need to “strengthen the supervision and utilization and disposal capabilities of hazardous waste, focusing on pollution control of tailings ponds in key areas such as the Yangtze River Economic Belt and the Yellow River Basin.” It also set clear objectives for the development of "waste-free cities."
The Yibin hazardous waste disposal project (Phase II) boasts a disposal capacity of 50,000 tons per year, with a total investment of RMB 1.098 billion. The project will see the construction of new facilities including a temporary storage for hazardous waste, an incineration system, a physical and chemical treatment system, a wastewater treatment system, and auxiliary and office areas, accelerating the realization of Yibin’s “waste-free city” goal.
IB has innovatively designed a mechanism linking the loan interest rate to the project’s hazardous waste treatment volume. Once the treatment volume reaches the scale stipulated in the loan contract, IB will offer the enterprise a preferential interest rate. This incentive aims to encourage the enterprise to reach full production and increase its treatment capacity swiftly, supporting the construction of Yibin as “waste-free city”.
In recent years, IB has continually polished its reputation as a “Green Banking,” focusing on key “pollution reduction” sectors and actively supporting water resource conservation and solid waste disposal. This supports the comprehensive protection of the Yangtze River and the ecological preservation of the Yellow River Basin. By the end of 2023, IB’s green finance financing in the “pollution reduction” domain reached RMB 419.5 billion.