World Bank Approves China's Green and Carbon-Neutral Cities Project

World Bank Approves Jinn Green and Carbon Neutral Cities Project
World Bank Approves China's Green and Carbon-Neutral Cities Project

According to the information provided by the Ministry of Finance of China, the "China-GEF7: Green and Carbon-Neutral Cities Project" was approved by the World Bank Board of Directors under the simplified procedure (AOB), using the grant from China's Global Environment Facility (GEF).

The project aims to integrate biodiversity conservation into the development process of participating cities and create a pathway to carbon neutrality. The amount of the project is 26 million 909 thousand dollars and all of it is donated by GEF.

The project in question consists of three parts. These; establishing an urban high-quality development framework focused on promoting biodiversity conservation and carbon neutrality, supporting integrated solutions for biodiversity and climate change, planning and investment towards nature and carbon neutrality; supporting knowledge sharing, capacity building and project management.

The implementing institutions of the project were announced as the cities of Chongqing, Chengdu and Ningbo, and the China Urban Development Center, a subsidiary of the China National Development and Reform Commission. The implementation period of the project will be between 2022-2027.

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