WB-backed Urban Development Project in Central China

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Last updated at: (Beijing Time) Friday, November 15, 2002

WB-backed Urban Development Project in Central China

A loan of 150 million US dollars will be provided by the World Bank for an urban construction project in Hunan Province, central China.

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A loan of 150 million US dollars will be provided by the World Bank for an urban construction project in Hunan Province, central China.

Development of the 128-km-long Xiangjiang River Ecological and Economic Belt, which has passed evaluation by the World Bank, will cost more than 300 million US dollars., a local official said Friday.

The belt will begin at Yueliang Island in Changsha, the provincial capital in the north, and end at Kongzhou Island in Zhuzhou City in the south, traversing along the way a number of well-known scenic spots, including Shaoshan, the hometown of the late Chairman Mao Zedong.

Public bidding has completed for the ecological and economic belt project, with the feasibility study conducted by an international consultancy company based in Hunan. The construction scheme is expected to be finalized before the end of this year.

In a related development, a similar project in Guiyang, capital city of southwestern Guizhou Province, was simultaneously approved for a World Bank loan.

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