AIIB to Invest $250 Million in Beijing Gas Infrastructure

Asian Infrastructure Investment Bank finalized the contract with Beijing Gas Group on March 19, 2018 as a $250 million loan to the coal-to-gas infrastructure construction in Beijing. The project was approved initially by AIIB in November 2017, aiming to reduce China’s coal use by about 650,000 tons annually through connecting about 216,750 households in approximately 510 rural villages to the natural gas distribution network.

Upon completion and after subtracting the emissions of burning natural gas, the Beijing Air Quality Improvement and Coal Replacement Project is expected to reduce annual carbon dioxide emissions by 595,700 tons; particulate matter by 3,700 tons; sulfur dioxide by 1,488 tons and nitrogen oxide by 4,442 tons.