This shows the adaptability of EEOs as an effective policy instrument. An IFC programme, the China Utility based Energy Efficiency Programme (CHUEE) provided USD 520 billion in loans that were leveraged to a total USD 936 project investments to 78 companies without a default loss. In its 3rd phase CHUEE moved beyond its utility base to work through a wider range of medium sized financial institutions to reach more industrial consumers and SMEs. ( Prokilowatt is a tender based funding programme based on a levy on transmission charges. From 2013 onwards, the maximum level of available funding is CHF 25 million.