According to the bank document, the Financial Intermediary Loan will finance a pool of green projects sponsored by local governments through ring-fenced and special purpose vehicles with mandatory green (e.g. carbon reduction plus land, water, and air pollution indicators) and financial bankability (e.g. financial internal rate of return, debt service coverage ratio) indicators; conditional on PIC leverage ratios; and cross-sector:
(i) water and sanitation, including drainage and sponge cities;
(ii) urban transport, including electric vehicles and public transport;
(iii) waste management, including waste to energy and hazardous waste;
(iv) environment, including forestry and land remediation.
The program could also support ADB PRC flagship programs, particularly "Yangtze River Economic Belt Framework," "Low Carbon City," and the "Belt and Road" initiative by leveraging sovereign funding.
Ministry of Finance
Sanlihe, Xicheng District
People's Republic of China
ACCOUNTABILITY MECHANISM OF ADB
The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main