ADB to loan $3b for western development

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Last updated at: (Beijing Time) Thursday, April 01, 2004

ADB to loan $3b for western development

The Asian Development Bank (ADB) will loan approximately 3 billion US dollars to assist China's western development in the next two years, the Beijing-based Economic Daily reported.

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The Asian Development Bank (ADB) will loan approximately 3 billion US dollars to assist China's western development in the next two years, the Beijing-based Economic Daily reported.

These loans, about 80 percent of ADB's total loans to China in 2005 and 2006, will be used on infrastructure projects involving transportation, energy, agriculture and environmental protection in China's western areas.

Some 65 percent of these loans will be used for transportation projects, 27 percent for environmental protection and 8 percent for other projects, according to the report.

ADB loans anywhere from 4 to 6 billion US dollars each year forsupport of social and economic development of less developed regions of various countries.

Source: Xinhua

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