On May 4, the People's Bank of China announced an increase of 100 billion yuan in a special reloan line to support the clean and efficient use of coal, specifically to support the development and use of coal and enhance coal reserve capacity. So far, the total amount of special reloans to support the clean and efficient use of coal has reached 300 billion yuan.
The complex evolution of the current world situation and the continued high fluctuation of international energy prices have brought greater uncertainties and challenges to China's energy security and stable economic operation, said an official from the People's Bank of China. The 100 billion yuan increase in the clean and efficient use of coal refinancing line is specifically used to support the development and use of coal and enhance coal reserve capacity, which will help give full play to The characteristics of China's rich coal resource endowment, ensure the steady supply of energy, support the stability of the industrial and supply chains, and support economic operation within a reasonable range.
It is understood that this increase in the clean and efficient use of coal special reloan quota specific support for coal safety production and storage, as well as coal power enterprises power coal supply areas. Support projects include modern coal mine construction, green and efficient technology application, intelligent mine construction, coal mine safety renovation, coal washing and dressing, and coal reserve capacity construction.
Financial institutions should give priority to project loans to support coal safety production and storage, said an official with the People's Bank of China. In the field of coal supply and protection of coal power enterprises, working capital loans for coal power enterprises to purchase coal issued by financial institutions may apply for special reloan support for clean and efficient utilization of coal as required.
According to the introduction, the coal clean and efficient use of special reloan to take the "first loan after borrowing" direct mechanism, by the month. Financial institutions make their own decisions and take their own risks to issue concessional loans to projects within the scope of support that meet the standards. The loan interest rate is roughly the same as the market quoted interest rate for loans of the same maturity announced last time at the time of issuance. The loan interest rate can be floated according to the credit status of enterprises. For qualified loans, the People's Bank of China shall provide special re-loan funds equal to the principal of the loans.