The Guangxi Environment Department has signed an agreement with Guangxi Beibu Gulf Bank Company on green credit services.
According to the agreement, the parties will jointly establish a work mechanism and set up a work team to promote green credit service in Guangxi. The bank will only support loans to companies whose projects have passed an environmental review by the local environment department. Meanwhile, the bank will not offer additional loans to companies or business undertakings that violate the environmental rules and will gradually recall loans from those enterprises that have violated the environmental rules and failed to correct the violation within a given deadline.
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