Bank of Qingdao (BQD) is a private regional bank headquartered in the city of Qingdao, Shandong Province, which has one of the longest coastlines in China. At 30 June 2021, the bank had a total market capitalization of USD 2.8bn. It operates via 15 branches in the main cities in Shandong and has over 4,000 employees.
The funds lent to BQD will be allocated to underlying projects that comply with BQD’s
Blue Bond Framework, which has been developed with support from IFC and comprises 27 activities in 7 categories. They are all related to water resources. All the projects finalized will contribute to improving marine biodiversity.
The main expected economic, social and environmental impacts are as follows:
- Financing for projects that will contribute to reducing the volume of marine litter and untreated wastewater, while promoting responsible fishing. It should be noted that certain projects will have climate mitigation and adaptation co-benefits (40% of the credit line qualifies as “climate”)
- Support for about 4,200 jobs in the companies that will benefit from Proparco’s financing.
The project will contribute to SDG 6 (Clean water and sanitation), SDG 7 (Affordable and clean energy), SDG 9 (Industry, innovation and infrastructure), SDG 12 (Responsible consumption and production), SDG 13 (Climate action) and SDG 14 (Life below water).
This information is given at the time of signature, without prejudice to any developments in the operation/project
New Blue Loan to Help Bank of Qingdao Pilot Blue Finance, Supporting China’s Climate GoalsPublished on 24 June 2022
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Kiliç Deniz 2023