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Auditing shows 200 mln yuan embezzled in foreign-loan projects

(Xinhua)

08:36, June 19, 2012

BEIJING, June 18 (Xinhua) -- Auditing results released Monday by the National Audit Office show a total of 237 million yuan (37.62 million U.S. dollars) were embezzled or held up in projects funded by foreign loans or financial aid to China in 2010.

The involved money was found in six projects out of 99 projects that the agency had audited, covering agriculture, energy, transport, education, health, as well as urban construction, the NAO said in a statement on its website.

The statement said relevant authorities had recovered the embezzled money.

As of the end of 2010, these projects had taken foreign capital worth 34.5 billion yuan. The total planned investment for these 99 projects was 424.62 billion yuan, according to the statement.

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