ADB launches local currency loan programme

By Shruti Chaturvedi
14 Aug 2014

The Asian Development Bank (ADB) is planning to launch a new loan programme to support local currency financing. The Local Currency Complementary Loan Program will help companies raise funding in Asian domestic currencies for specific projects in areas that support the ADB's key poverty-reduction goals.

The first loan under the new scheme will be a $200m-equivalent renminbi fundraising for Hong Kong-listed waste to energy company Dynagreen Environmental Protection Group, which is the environmental infrastructure arm of Beijing State-Owned Assets Management Co.

The ADB will provide half the funds and will mandate ...

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