The Asian Development Bank (ADB) has approved a $200 million equivalent loan to help build and implement green, low-carbon, climate-resilient, and cross-sector urban development measures in Chongqing Gaoxin District in Chongqing Municipality, the People’s Republic of China (PRC).
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ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members—49 from the region.
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“Chongqing has ambitious climate change targets, as well as a strong commitment to evolving Chongqing Gaoxin District into a low-carbon, nature-based, and climate-resilient city. But a holistic and integrated approach is critical to long-term success,” said ADB Country Director for the PRC Safdar Parvez. “This results-based lending program will foster collaboration among stakeholders and benefit almost a million residents.”
Chongqing experiences severe climate events, such as high temperatures, mountain fires, heavy rain, and droughts. The city’s rapid urban and industrial development has also degraded environmental quality, with Chongqing Gaoxin District facing frequent flooding, subpar infrastructure, and poor river water quality.
The Chongqing Gaoxin District Green and Low-Carbon Urban Development Program will support green and low-carbon infrastructure and services, including improved domestic wastewater management, green buildings, and renewable-energy-powered district heating and cooling supply. It will also support the development of a green eco-district—which applies sustainable urban practices like efficient resource usage and lowered carbon emissions into design and operation—and application of nature-based solutions, including enhanced flood mitigation capacity and urban green spaces.
The program will also strengthen institutional capacity and human capital to build and implement green and low-carbon initiatives, as well as train students, especially females, for roles toward climate-resilient urban development.
ADB’s climate finance for the program is $124 million, with an estimated $72.75 million in mitigation costs and $51.25 million in adaptation costs. The total program cost is $841.9 million equivalent. It is expected to be completed in 2030.
ADB’s vision is to achieve a prosperous, inclusive, resilient, and sustainable Asia and Pacific, while sustaining its efforts to eradicate extreme poverty. Despite the region’s many successes, 1 in 3 people still live under $3.20 a day – that’s 1.24 billion people. ADB will continue to prioritize the region’s poorest and most vulnerable countries.
About ADB
Established in 1966, ADB is owned by 68 members, including 48 from the region. Its main instruments for helping its developing member countries are policy dialogue, loans, equity investments, guarantees, grants, and technical assistance.
The Asian Development Bank (ADB) is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. It assists its members and partners by providing loans, technical assistance, grants, and equity investments to promote social and economic development.
