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China Receives 200 Million Dollars from World Bank
The World Bank announced Friday that it has approved a loan of 200 million U.S. dollars to China to help provide a safe environmental setting for the sustainable long-term economic growth of urban areas in Chongqing Municipality.
The Chongqing urban environment project will support the municipality in implementing the first phase of a long-term urban environmental improvement program to recover from past environmental degradation of its water and land resources, the bank said.
The project also will provide an adequate supply of safe water to its growing urban population and economy, and maintain water quality at levels that are compatible with the needs of the wider Yangtze River Basin.
The loan will be provided by the International Bank of Reconstruction and Development, part of the World Bank Group, with a maturity of 20 years, including a five-year grace period.
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