Eximbank Signs Loan Contracts in Japanese Yen

The China Export and Import Bank (Eximbank) signed two loan contracts with the cities of Tianjin and Tangshan, Friday, with a combined value of 9.983 billion Japanese yen (80 million U.S.dollars).

One of the contracts was signed with Tianjin Drainage Company to pay for water projects in the Haihe River, with a contract value of 7.142 billion yen; while the other was signed with the Tangshan Municipal Department of Finance for projects to supply water to Tangshan, with a contract value 2.841 billion yen.

The loans will be used to purchase necessary instruments and equipment for the projects in the contracts.

A spokesman for Eximbank said the bank has made great efforts to promote the issuing of foreign government loans and ensure that these loans are used efficiently and remain in high quality. Over the past few years a large number of key construction projects in energy, transportation, environment protection, telecommunications and other fields have utilized such loans from the bank.

By the end of May, Eximbank had handled foreign government loans equivalent to 15.36 billion U.S. dollars from 15 countries and the European Investment Bank.

People's Daily Online --- http://english.peopledaily.com.cn/