China Everbright has launched the Everbright Belt & Road Green Fund, media reports said. It is a dual-currency fund. The Everbright Belt & Road Green Fund aims to attract $2.8 billion in investments across those countries along China’s belt and road initiative.
China Everbright is a Hong Kong-based financial services firm specialised in asset management investment and merchant banks. The Everbright Belt & Road Green Fund is established with a focus environment-friendly development and protection, media reports said.
It will invest in companies associated with green energy, green manufacturing, green living, and other forms of environmental development. Wang Tianyi, CEO of Everbright International, told the media, “The company will provide feasible advice and full support to Everbright Green Investment Fund, and contribute to the improvement of ecological environmental management proficiency in the ‘Belt and Road’ countries and regions. Everbright International will consider its participation in Everbright Green Investment Fund an opportunity to further diversify its financing channels, enrich the market expansion methods and boost its market position, in an effort to strongly support the company’s implementation of its long-term development strategy.”
It is reported that the Everbright Belt & Road Green Fund is a result of the Second Belt & Road Forum for International Cooperation. The pandemic is anticipated to affect China’s Belt and Road initiative as the project might remain incomplete or be fully abandoned if uncertainties around Covid-19 continue. This initiative aims to establish a link between China and the rest of Asia, Europe, and beyond. The idea is to promote trade between these countries through a network of rail, road, and ports.