World Bank loan to prevent flood control
Source: Xinhua |
July 9, 2010, Friday
|
Print Edition
Print Edition
THE World Bank has approved loans totaling US$260 million to China for flood control and environmental improvement projects, the bank's China office said yesterday.
The new loans came just one day after the bank lent five Chinese provinces US$100 million to increase diversified forest cover and improve the management of forest resources.
Of the US$260 million worth of new loans, US$200 million will be offered to the Huaihe River Basin Flood Management and Drainage Improvement Project, located in Henan, Anhui, Jiangsu, Shandong and Hubei provinces in central and east China.
The project will supplement the Chinese government's efforts in strengthening flood control and drainage infrastructure in the region by focusing on medium- and small-sized works on the Huaihe river's tributaries in the poorer rural areas, the bank said.
The loans will finance construction or rehabilitation of dikes, flood control works, waterways and other infrastructure, enhancement of disaster assessment and support systems including collection, transmission and processing of information and data on river floods and drainage, and capacity building for local project implementation entities, according to the bank.
The other US$60 million will go to the Yunnan Urban Environmental Project II to provide additional financing to the ongoing project.
The new loans came just one day after the bank lent five Chinese provinces US$100 million to increase diversified forest cover and improve the management of forest resources.
Of the US$260 million worth of new loans, US$200 million will be offered to the Huaihe River Basin Flood Management and Drainage Improvement Project, located in Henan, Anhui, Jiangsu, Shandong and Hubei provinces in central and east China.
The project will supplement the Chinese government's efforts in strengthening flood control and drainage infrastructure in the region by focusing on medium- and small-sized works on the Huaihe river's tributaries in the poorer rural areas, the bank said.
The loans will finance construction or rehabilitation of dikes, flood control works, waterways and other infrastructure, enhancement of disaster assessment and support systems including collection, transmission and processing of information and data on river floods and drainage, and capacity building for local project implementation entities, according to the bank.
The other US$60 million will go to the Yunnan Urban Environmental Project II to provide additional financing to the ongoing project.
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