The World Bank has granted 2.1 million US dollars in loans to Qingdao University of Oceanology, China's only such specialized institution of higher learning, located in this coastal city in east China's Shandong Province.

The loans will mainly be used for transforming the five experimental and teaching centers of physics, chemistry, biology, electronics, and multimedia technology.

A source at the university said this transformation is part of a national program to boost the maritime economy.

China, facing a growing population and a shortage of onshore resources, has stepped up efforts to develop its seas. Many coastal provinces, such as Shandong, Zhejiang, Fujian and Guangdong, are working hard to turn their maritime economies into a major economic growth area in the years to come.

Qingdao is also home to 25 marine research institutes employing more than 5,000 professionals, fully 40 percent of the country's total marine research personnel. (Xinhua)