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Exclusive: California climate budget to include $1 billion green loan fund

Recycling innovation would be among the priorities for a proposed state loan fund aimed at seeding innovative solutions to climate change in California. Photo by Anne Wernikoff for CalMatters.

Gov. Gavin Newsom will include a proposal to launch a four-year $1 billion revolving loan program to seed recycling, low-carbon transportation and climate-smart agriculture projects as part of his new budget Friday, according to a document obtained by CalMatters.