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China's Most Populous Province Utilizes Foreign Financial Loans
Henan Province in central China, the most populous province in the country, announced that it has utilized 1.5 billion US dollars of loans issued by international financial organizations.
The province was among the earliest group of provinces and regions in China to receive loans from foreign financial organizations. The province has signed 33 loans to finance the development of industry, agriculture, energy, communications, education, hygiene and urban infrastructure buildings.
The inland agricultural province has a lackluster economy. The introduction of foreign loans has benefited a large number of farmers. To ensure the repayment of loans, the provincial government has set up a Foreign-Credited Project Management Office to supervise the utilization of the loans.
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