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WB Approves US$200M Loan to China
The World Bank (WB) on June 5 approved a loan totaling US$200 million to be used in the Second Highway Project in east China's Jiangxi Province.
According to a WB official, this project will improve the traffic condition between Jiangxi's Nanchang city and Guangdong Province's Shenzhen and Guangzhou cities, lower vehicle operational expenditures, shorten the traffic time and thus promote the social and economic development, reduce poverty, and narrow the gap between rich and poor regions.
In addition, this project will also help alleviate traffic snarl, increase the vehicle flow and improve the traffic condition in Jiangxi's low-income regions as well.
The total investment for this project is reportedly estimated to be US$535.7 million, with US$200 million coming from WB, and others being the government's supporting funds..
By PD Online Staff Huang Ying
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