China Development Bank, Tibet sign loan agreement

Thanks to the more than 40 years' construction for, the urban area of Lhasa, capital city of southwest China's Tibet Autonomous Region, has reached 60 square kilometers, twenty times that of the past. Photo shows the well-arranged new-Tibetan style residences near the bank of Lhasa River

The inaugural ceremony for the office of China Development Bank in Tibet was held on August 31, 2005. Deputy heads of the central delegation Zhou Yongkang, Raidi, Liu Yandong and other members of the central delegation attended the ceremony.

Tibetan Autonomous Region Chairman Qiangba Puncog signed an agreement on a six-billion yuan policy-based lending with Chen Yuan, member of central delegation and president of China Development Bank.

According to the agreement, the six-billion yuan credit will mainly be used to support those projects in infrastructure, basic and pillar industries that have great influence on the socio-economic development of the region.

By People's Daily Online