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the components quality guarantee insurance agreement with a dedicated insurance
corporation under Munich Reinsurance. This agreement covered the polycrystalline
silicon components sold during the period from October 1, 2012 to September 30, 2013.
2.5 International Financing
Developed countries offer funds to developing countries against
climate changes from a public budget, which is the representation
of ‘common but differentiated responsibilities’. It is estimated that
in 2011, about USD 97 billion was transferred from the developed
countries into developing countries, of which USD 21 billion was
provided from the public budget of developed countries, accounting
for nearly 22 per cent. Such an amount of capital was offered to
the developing countries including China by a capital mechanism
under the conventional multilateral channels and bilateral channels.
According to the statistics acquired at present, Asia has accepted the
most capital from developed countries. In 2009–10, 40 per cent of
climate fund was transferred by multilateral financial institutions and
26 per cent from bilateral financial institutions went to Asia; however,
there is no definite amount of the total capital flowing into China.
At present, although some institutions have presented certain
statistics on China’s acceptance of climate funds from developed
countries, it is difficult to make an accurate estimation on the overall
capital scale due to different statistical calibres, and there is no
accurate, complete, and full statistical data on local governments’
acceptance of international capital to develop low carbon economies.
At the end of 2011, foreign government loans of USD 33.3 billion and
loans from international financial institutions of USD 35 billion were
used in China. The State Administration of Foreign Exchange and the
Department of Foreign Capital and Overseas Investment of National
Development and Reform Commission have presented some statistics
on China using capital from multilateral and bilateral financial
institutions from different perspectives; however, there is no disclosed
statistics data on the amount of capital involved in climate change
programmes. According to the Twelfth Five-Year Plan, in terms of
foreign capital and overseas investment, China estimates loans of
USD 23.38 billion provided by foreign governments and international
financial institutions on favourable terms. Resources obtained from
these sources were mainly invested in activities including agriculture,
forestry, water, transportation, energy conservation, health, education,
and ecological construction during the Eleventh Five-Year Plan period.
122 Low Carbon Development in China and India
corporation under Munich Reinsurance. This agreement covered the polycrystalline
silicon components sold during the period from October 1, 2012 to September 30, 2013.
2.5 International Financing
Developed countries offer funds to developing countries against
climate changes from a public budget, which is the representation
of ‘common but differentiated responsibilities’. It is estimated that
in 2011, about USD 97 billion was transferred from the developed
countries into developing countries, of which USD 21 billion was
provided from the public budget of developed countries, accounting
for nearly 22 per cent. Such an amount of capital was offered to
the developing countries including China by a capital mechanism
under the conventional multilateral channels and bilateral channels.
According to the statistics acquired at present, Asia has accepted the
most capital from developed countries. In 2009–10, 40 per cent of
climate fund was transferred by multilateral financial institutions and
26 per cent from bilateral financial institutions went to Asia; however,
there is no definite amount of the total capital flowing into China.
At present, although some institutions have presented certain
statistics on China’s acceptance of climate funds from developed
countries, it is difficult to make an accurate estimation on the overall
capital scale due to different statistical calibres, and there is no
accurate, complete, and full statistical data on local governments’
acceptance of international capital to develop low carbon economies.
At the end of 2011, foreign government loans of USD 33.3 billion and
loans from international financial institutions of USD 35 billion were
used in China. The State Administration of Foreign Exchange and the
Department of Foreign Capital and Overseas Investment of National
Development and Reform Commission have presented some statistics
on China using capital from multilateral and bilateral financial
institutions from different perspectives; however, there is no disclosed
statistics data on the amount of capital involved in climate change
programmes. According to the Twelfth Five-Year Plan, in terms of
foreign capital and overseas investment, China estimates loans of
USD 23.38 billion provided by foreign governments and international
financial institutions on favourable terms. Resources obtained from
these sources were mainly invested in activities including agriculture,
forestry, water, transportation, energy conservation, health, education,
and ecological construction during the Eleventh Five-Year Plan period.
122 Low Carbon Development in China and India
