WB to Provide China US$ 1.3-1.5bn Loan Every Year

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Last updated at: (Beijing Time) Friday, May 31, 2002

WB to Provide China US$ 1.3-1.5bn Loan Every Year

When interviewed by reporters before concluding a 8-day tour in China, the World Bank President James Wolfensohn spoke highly of China's great achievements which have been made during the 20-year opening up period, and promised to continue providing financial aid to China.

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The World Bank (WB) will continue providing financial aid to China, said the bank president James Wolfensohn before winding up his 8-day tour in China.

While recalling his first visit to China as a World Bank official in 1995, the president spoke highly of China's economic and social accomplishments during the past two decades.

He also praised the achievements China has made in helping people overcome poverty.

He said 250 million Chinese people have been lifted out of poverty over the past twenty years.

The great achievements made just in one generation have proved one fact to the world: Achievements can be made as long as proper policies are launched and leaders are determined to do so.

Wolfensohn visited China this time with an aim of keeping abreast of the current development of China and discussing WB's further possible aid to China after the country's entry into the WTO.

He noted it's the World Bank's honor to contribute to China's 20-year development and the bank will offer China an annual loan of US$1.3-1.5 billion in the future to push forward China's further development.

He also expressed his concern for expanding cooperation with Chinese western provinces and helping it out with its development scheme.

By PD Online Staff Yang Ruoqian

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