Innovative Financing for Air Pollution Control in Jing-Jin-Ji

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The development objective of the Innovative Financing for Air Pollution Control in Jing-Jin-Ji (JJJ) Project for China is to reduce air pollutants and carbon emissions through increasing energy efficiency (EE) and clean energy, with a focus on the Jing-Jin-Ji and neighboring regions. The program for results (PforR) program is closely linked with and brings value-added contributions to the government program. This operation adds value and contributes to the air pollution prevention and control action plan (APPCAP) by strengthening EE and clean energy to reduce coal consumption through commercial financing. The PforR program is a results-based program supported by the Bank and aimed at improving EE, increasing clean energy, and reducing emissions, contributing to the APPCAP, with a focus on the coal reduction targets. The PforR program covers seven provinces and municipalities in the JJJ region and its neighboring regions - specifically, Beijing, Tianjin, Hebei, Shandong, Shanxi, Inner Mongolia, and Henan, as defined in the JJJAP. The PforR program will finance activities through three key result areas, aligned with the priorities outlined in the APPCAP: (i) reduced coal consumption from increased EE and RE, (ii) reduced air pollution emissions from pollution abatement measures, and (iii) strengthened institutional capacity of the Hua Xia Bank Company Limited (HXB).