Share the page

A “blue loan” to support projects to improve marine biodiversity

Project

Financial services
Illustration du prêt bleu octroyé à Bank of Qingdao
Signature date
Location
China
Financing tool
Loan
Financing amount (Euro)
34818941
Financing details
USD 35m loan
Customer
Bank of Qingdao Co., Ltd
Type of customer
Financial institution
Country of headquarters
China
Project number
PCN1058
Environmental and social ranking
IF-B
Download the report

This information is given at the time of signature, without prejudice to any developments in the operation/project.

Proparco, IFC, ADB and DEG have allocated a USD 150m “blue loan”, arranged by IFC, to Bank of Qingdao (BQD).

Client presentation

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.

Project description

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.

Project impact

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).