The partial credit-guarantee program will support energy-efficient projects in China, the Manila-based bank said.

The pilot program, ADB's first credit guarantee to bring commercial financing to China, will initially target energy-efficiency projects for buildings in southern and eastern China, where most of the industry is, Xinhua reported.

"It is the only project so far of this scale in energy efficiency in China and the first one in any ADB member," said Seethapathy Chander, deputy director general of ADB's Private Sector Operations Department.

The program will support retrofitting existing buildings, leading to energy savings of 20 percent to 40 percent; it will also support new energy-efficient buildings.

Standard Chartered Bank was selected as the partner financial institution in the program, the first commercial bank to cooperate with the ADB on the Energy Efficiency Multi-Project Financing Program, which was initiated by the ADB to expand its operations in energy efficiency and clean energy to at least $1 billion a year.