China Urges ADB to Reduce or Exempt Interest Payments

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Sunday, May 07, 2000, updated at 20:23(GMT+8)

World

China Urges ADB to Reduce or Exempt Interest Payments

China wants the Asian Development Bank, or the ADB, to mobilize all possible resources for more hard loans to help developing members realize their objective of poverty reduction.

At the latest ADB Board Meeting in Thailand, Chinese Finance Minister Xiang Huaicheng said China hopes the ADB will reduce or exempt interest payments to ease the burdens of borrowers.

He also appealed to developed countries to increase their contributions to the Asian Development Fund.

The minister says they should also increase concessional funds for technical assistance to developing countries in order to eliminate poverty.

He says China welcomes the ADB's participation in and support of the development of the western region of the country, and also welcomes foreign investment and cooperation.


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	China wants the Asian Development Bank, or the ADB, to mobilize all possible resources for more hard loans to help developing members realize their objective of poverty reduction.




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