In a stepping motor cooling apparatus for a belt-type continuously variable transmission, a pair of primary and secondary pulleys are disposed inside a transmission case, and a forward/backward switching unit is disposed coaxially to the primary pulley, furthermore, a stepping motor is disposed below the forward/backward switching unit. An inner case originating from the transmission case surrounds a circumference of the forward/backward switching unit. Through the inner case, a dripping hole is formed at an inner case's portion directly above the stepping motor so that working fluid drained from the forward/backward switching unit can drip on the stepping motor. In order to further improve the cooling effect of the stepping motor, a recess portion is formed immediately below the stepping motor at an upper surface of a valve body disposed under the stepping motor.