The China Construction Bank said Thursday it will provide 58.6 billion yuan (7.2 billion US dollars) in financial support for infrastructure projects in southwest China's Sichuan Province.

The funds will be used in the fields of power, transportation, urban development and education, the state bank said in a statement.

An additional 30 billion yuan (3.7 billion dollars) will be provided for hydro-power projects at the Yalong River in the province.

The bank had signed agreements with the Sichuan provincial government and Ertan Hydro-power Development Company Ltd., which takes charge of projects at the Yalong river.

The Construction Bank's support for Sichuan will be "long-term"and "stable", the statement said.

Financial support from a bank usually refers to loans, but it may also include bonds and other financing forms.

China is pressing ahead with the growth of its underdeveloped western areas, including Sichuan.

The Construction Bank said it hopes to achieve a "win-win" situation through cooperation with Sichuan.

Source: Xinhua