ADB to increase lending to China

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Last updated at: (Beijing Time) Wednesday, September 18, 2002

ADB to increase lending to China

The Asian Development Bank (ADB) plans to increase its lending to China to an annual average of 1.5billion US dollars, according to the Country Strategy and Program Update for 2003 to 2005.

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The Asian Development Bank (ADB) plans to increase its lending to China to an annual average of 1.5billion US dollars, according to the Country Strategy and Program Update for 2003 to 2005.

The increase in lending, from the current average annual level of about one billion dollars, aims to help China restructure its economy and reduce poverty by promoting sustainable and pro-poor economic growth, an ADB press release said Tuesday.

More than three quarters of the lending will finance projects in the central and western regions in China, with transport and social infrastructure dominating the operations during the three-year period.

The lending will be complemented by an annual technical assistance program of about 14 million dollars. This will support policy reforms aimed at sustainable development and equitable growth and focus on developing an enabling environment for the private sector, capacity building in the public sector, promoting good governance and environmental protection in cities and rural areas.

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