Japan Grants Loan to Develop Chinese AgricultureThe International Cooperation Bank of Japan will grant 8.9 billion yen for the development of agriculture in China's Yellow River Delta.The loan will be used to construct water facilities, improve low-yield fields, plant trees and establish electric power plants in east China's Shandong province. This is the largest sum of foreign loans the province has received in history, according to local government. The development of the Yellow River Delta is a key program in the new millennium, which is expected to improve production capability and increase farmers' income along the second longest river in China. The interest rate on the loan is 2.2 percent. |
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