World Bank approves funds to promote biodiversity, carbon neutrality in Chinese cities

BEIJING, May 25 (Xinhua) -- The World Bank has decided to provide funds for an urban environment project in China to promote biodiversity conservation and carbon neutrality, the country's finance ministry said Wednesday.

About 26.91 million U.S. dollars will be granted by the Global Environment Facility (GEF) for the "China-GEF7: Green and Carbon-Neutral Cities Project," which would involve the Chinese cities of Chongqing, Chengdu and Ningbo, as well as an urban development center under the National Development and Reform Commission.

The project, expected to run from 2022 through 2027, aims to integrate biodiversity conservation in participating cities' urban development and establish their pathway to carbon neutrality, according to the ministry.

Established in 1991, the GEF trust fund aims to provide funding to achieve global environmental benefits with the World Bank serving as its trustee.