The completion of the green bridge loan worth close to EUR 15 million, marks DBS Hong Kong’s first green loan with CNTIC, for which the bank serves as the sole bilateral lender, and provides CNTIC’s first offshore bank loan. This transaction is also supported by China Export & Credit Insurance Corporation (“Sinosure”), a state-funded policy-oriented insurance company, serves as the sole guarantor on the loan.
The green bridge loan will go towards financing CNTIC HK’s wind farm project in the municipalities of Tomislavgrad and Livno in Bosnia and Herzegovina. The project, known as Project Ivovik, will be the biggest wind farm and largest-ever investment in renewable energy sources by Chinese enterprises in the markets.
The wind farm will be developed by both CNTIC HK and PowerChina Resources Limited Code: 601669.SS), featuring a total installed capacity of 84 milliwatts (MW). By promoting energy transition and upgrading energy infrastructure upon completion, this national project will contribute to the process of achieving carbon peak and carbon neutrality in Bosnia and Herzegovina.
Alex Cheung, Managing Director and Head of Institutional Banking Group of DBS Hong Kong, said, “As more organisations make concerted efforts in driving a zero-carbon future, the renewable energy industry has been developing at an unprecedented rate. DBS Hong Kong is proud to play a strategic role in supporting CNTIC HK’s sustainability endeavours via Project Ivovik, its landmark investment that will transform the renewable energy landscape in Bosnia and Herzegovina, and paves a pathway towards achieving carbon neutrality goals.”
Project Ivovik will be the biggest wind farm and largest-ever investment in renewable energy sources by Chinese enterprises in Bosnia and Herzegovina.[End]
About DBS DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world. Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 13 consecutive years from 2009 to 2021. DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia. With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
