Financial intermediary. The financial intermediary loan modality was an effective mechanism to support implementation of energy efficiency projects. Evaluation of the financial viability of the candidate subborrowers was conducted independently by the GFTC to assess the financial status of each subproject. The project's revolving funding mechanism is operational, and proceeds from the loan repayments of earlier subborrowers are being rolled over to provide loans to new subborrowers that meet the eligibility criteria. The relending of subloan funds that have been repaid with interest will allow compound growth in the energy savings produced by the project during the ADB loan repayment grace period.
Guangdong Energy Efficiency and Environment Improvement Investment Program - Tranche 3