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Eximbank Signs Loan Transfer Contracts with Western Provinces
The Export and Import Bank of China (Eximbank) signed loan transfer contracts with three provinces Thursday in Beijing.
The Eximbank will transfer a loan of 12 billion Japanese Yen to help plantation projects in Shanxi and Shaanxi provinces and the Inner Mongolian Autonomous Region.
The money is the fourth transferred loan by the Eximbank during the year 2000 period. The loan will be used to help plant trees totaling 300,000 hectares in these western areas.
As a major loan transfer bank of foreign governments, the Eximbank has transferred loans of over 15.6 billion U.S. dollars for the Japanese, Germany and other governments, supporting projects in the fields of transportation, energy, urban construction, water conservation, and environmental protection.
A spokesman with the bank said that currently the Eximbank is shifting more lending to the western regions to accord with the government's strategy to develop the west.
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