SHANGHAI: China and the Asia Development Bank (ADB) have launched a green financing platform to support efforts by small- and medium-sized enterprises (SMEs) to cut pollution in the smog-hit Beijing-Tianjin-Hebei region, ADB said on Friday.
The area, home to six of China’s 10 smoggiest cities in the first quarter of this year, has promised to upgrade or shut vast swathes of polluting industry as it tries to meet 2017 air quality targets.
But financing the transition to cleaner energy has proved one of its biggest challenges, especially in poorer rural regions of Hebei, where the switch from coal to natural gas is expected to cost at least 300 billion yuan ($44.04 billion) over the period between 2016 and 2020.
The financing platform was launched by the ADB and the China National Investment and Guaranty Corporation (I&G), the State Development and Investment Corporation (SDIC), as well as China’s Finance Ministry and National Development and Reform Commission (NDRC).
The bank late last year approved a loan of €458 million ($510.58 million) for the platform, which it said will leverage €3.6 billion in domestic commercial financing.
According to Hebei delegates attending an annual session of the Parliament in March, the government is only expected to provide around 10-15 percent of the 3-4 trillion yuan of green investment China needs every year over the next five years.
China began to develop green financing in 2007 and more than 8 trillion yuan in “green credit,” used to finance clean projects, has been issued. However, environmental financing mechanisms remain inadequate, especially when it comes to tackling widespread soil and water pollution, and SMEs have also struggled to get funding.
“The reality is, even though SMEs realize the need to invest in cleaner production facilities, they often do not have access to finance,” said Ayumi Konishi, director-general of ADB’s East Asia Department, at a ceremony held in Beijing on Friday.
China selected five regions this week to take part in pilot government green financing schemes, the Cabinet said on Wednesday.
It promised to back financial institutions in their efforts to set up green financing businesses, encourage small loans and provide support to venture capital and private equity funds participating in green investment programs.
It also said it would explore new green credit mechanisms, including the granting of loans that accept emission trading earnings as collateral.
China, ADB launch green financing platform to fight pollution
China, ADB launch green financing platform to fight pollution
Saudi Arabia launches skills framework to support mining, industrial growth
JEDDAH: Saudi Arabia has launched a new skills framework for the mining and industrial sectors to standardize job roles and support workforce development.
The initiative was unveiled by Minister of Industry and Mineral Resources Bandar Alkhorayef on the sidelines of the Global Labor Market Conference 2026, according to Al-Eqtisadiah.
The framework is intended to help employers, job seekers and training providers better navigate labor demand in mining and industry, as Saudi Arabia accelerates investment in manufacturing, minerals processing and related value chains under Vision 2030.
“This is, in fact, a tool which ensures clear definitions of occupations and their required skills. It will cover more than 500 job roles, detailing the necessary skills, responsibilities, and titles,” Alkhorayef said during a discussion panel at the event.
The Ministry of Industry and Mineral Resources said the initiative — known as the Industry & Mining Occupations & Skills Framework — will serve as a national reference for occupations and skills in mining and industry.
The framework is designed to achieve a set of strategic objectives that support human capital development in the industrial and mining sectors. It aims to strengthen workforce planning, training programs, and career pathways, while supporting informed decision-making.
Covering more than 500 industrial occupations, over 300 professional specialties, 600 skills, and 900 professional certifications, the framework sets standardized job titles, descriptions, and skill requirements to support recruitment, performance, and competitiveness.
For each occupation, a profile is developed, outlining the code, job titles, and descriptions, as well as other information such as key tasks, educational qualifications, and required skills.
These profiles give employees clarity on roles, career pathways, and accredited credentials, while helping job seekers match their qualifications with suitable roles and focus on targeted skill development.
The framework, published by the ministry, runs to nearly 3,200 pages and was developed through collaboration with the General Authority for Statistics, alongside government bodies, private sector organizations and academic institutions.
The launch comes as Saudi Arabia’s mining push gains momentum after new surveys of the Arabian Shield showed the Kingdom’s mineral resources are larger than previously estimated.
Official estimates have jumped by about 90 percent to roughly SR9.37 trillion ($2.5 trillion), up from around SR5 trillion in 2016, strengthening the case for further mining investment and skills development.
