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|Thursday, March 29, 2001, updated at 10:58(GMT+8)|
World Band Funds Transport Project in North ChinaThe World Bank (WB) Wednesday approved a US$100 million loan for an urban transport project in the city of Shijiazhuang, capital of north China's Hebei Province.
The project is aimed at building an efficient and environmentally sustainable urban transport system in the city by reducing travel time and vehicle operating costs, improving road safety and reducing auto emissions, said Richard Scurfield, senior transport specialist and task manager for the project.
"With an increasing population and continued GDP growth expected, the city and surrounding areas will benefit from reduced infrastructure bottlenecks, better management of transport systems and the creation of a more efficient and livable city," Richard Scurfield noted.
The city of Shijiazhuang currently has a population of 1.5 million, and it is an important industrial and commercial center in north China with many manufacturing industries and wholesale businesses.
The total investment of the project is estimated at US$286 million, and the remaining costs will be financed by the local municipal government.
The project will finance a number of key investment projects including the city's transport development strategy, such as building new road infrastructure, introducing modern public transport facilities, and providing additional resources for road maintenance and technical assistance to strengthen urban transport facilities.
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