Loan syndication agreement to help develop waste-to-energy projects with local govts

The Asian Development Bank signed its first onshore local currency complementary loan syndication agreement worth $100 million on Tuesday to support Dynagreen Environmental Protection Group Co Ltd in clean municipal waste-to-energy projects with advanced technologies in small and medium-sized cities in China.

The loan syndication was arranged by the Bank of Tokyo-Mitsubishi UFJ Ltd and oversubscribed with the participation of 10 commercial banks including BNP Paribas SA and Cathay United Bank Co Ltd.