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WB Grants Environment Loan to Chongqing
The World Bank has approved a loan of 200 million U.S. dollars to protect drinking water and provide wastewater management services to improve the living conditions of three million people in urban Chongqing.
According to the WB's Resident Mission in China, the Chongqing Urban Environment Project will work to raise the quality of life for people in southwest China's Chongqing, Fuling, Wanzhou and Nanbin by supporting basic urban services of wastewater management.
The drinking water supplies in Chongqing and Fuling will be protected and the water supply will be increased to cities of Nanbin and Wanzhou, according to the WB.
The goal is to improve public health by creating a cleaner environment with upgraded wastewater and solid waste management systems, said the WB. Developing sustainable systems will significantly reduce the current hazards facing the people of Chongqing from water borne diseases and unsanitary environmental conditions.
Chongqing is the world's largest municipality, with a population of over 30 million. Urban Chongqing, located at the confluence of the Yangtze River and Jialing River, is home to over 24 million people. The urban area currently lacks a wastewater collection and disposal system.
In order to finance the urban environment project, the Chongqing Municipal People's Government has created financially independent wastewater companies that will rely on user charges to finance their operational costs.
The overall project cost of 536 million U.S. dollars will be financed with 336 million U.S. dollars from local governments. The WB loan has a maturity of 20 years, with a five-year grace period.
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