BSAM, Dynagreen Environmental Protection Group Co., Ltd and the Asian Development Bank Make Joint Efforts to Promote the Development of Waste Power Generation Industry
On February 28, 2017, BSAM, Dynagreen Environmental Protection Group Co., Ltd (Dynagreen) and the Asian Development Bank (ADB) signed a loan and guarantee agreement in Beijing, with a view to promoting clean municipal waste power generation projects applying advanced technology in small and medium-sized cities across China. Zhi Jun (President of BSAM and Chairman of Dynagreen) and other main leaders of Dynagreen attended the signing ceremony.
On April 12, 2013, BSAM, Dynagreen and ADB signed a loan agreement on “green credit for garbage power generation”. According to this loan agreement, ADB will provide RMB loans equivalent to USD200 million to Dynagreen, in which USD100 million will be directly funded by ADB and another USD100 million will be offered by bank consortium set up by ADB. This is the first time that ADB is engaged in the onshore local-currency supplement syndicated loan in China, which attracts ten commercial banks (such as Bank of Tokyo-Mitsubishi UFJ), which is an incremental part of RMB Class-A loan equivalent to USD100 million from ADB’s ordinary capital source. In addition, ADB will provide USD500,000 as technical assistance grant in order to improve corporate governance of Dynagreen.
According to President Zhi Jun, this signing ceremony marks the further cooperation between BSAM and ADB in the common cause of “upgrading living environment and improving life quality”. As responsible state-owned enterprises, BSAM and Dynagreen are always practitioners and pioneers in the concept of “Building a Beautiful China” for a long time. This concept is highly aligned with ADB’s vision and mission of “helping developing countries improve their people’s living environment and life quality. It is expected that Dynagreen can form a long-term strategic partnership with ADB, and make more and greater contribution to China’s economic and social development and great undertaking of “Building a Beautiful China”.
This local-currency supplement syndicated loan is led by Bank of Tokyo-Mitsubishi UFJ and is oversubscribed by ten commercial banks (Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Cathay United Bank, Chinatrust Commercial Bank, Shanghai Pudong Development Bank, Fubon Bank, Hang Seng Bank, Shinhan Bank, Sumitomo Mitsui Trust Bank and Korea Development Bank).