ADB Helps Finance Water Infrastructure Development Facility in China

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Last updated at: (Beijing Time) Thursday, July 04, 2002

ADB Helps Finance Water Infrastructure Development Facility in China

The Asian Development Bank (ADB) has approved a loan of up to 35 million U.S. dollars for a water infrastructure development facility in China, the ADB said Wednesday in Manila.

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The Asian Development Bank (ADB) has approved a loan of up to 35 million U.S. dollars for a water infrastructure development facility in China, the ADB said Wednesday in Manila.

The loan without sovereign guarantee will be offered to the China Water Utilities Group (CWUG), an investment holding company to be established in Shanghai by the China Water Company (CWC), to serve as the vehicle for the facility which has a total size of around 150 million dollars.

The facility will fund relatively small projects that ADB could have difficulty to assist directly, the ADB said in a news release.

The CWUG will use the facility to partner with different municipalities to develop water resources, water supply, waste water treatment, and other water-related infrastructure.

It is estimated that more than a third of China's river system are polluted and more than 90 percent of the catchment areas around its cities are severely contaminated.

The CWC will contribute 75 million dollars in equity to the facility. The ADB, together with two bilateral financial institutions, will provide loans totaling 75 million dollars.

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