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ADB approves $100 mn development loan for China
The Asian Development Bank (ADB) has approved a $100-million loan to undertake developmental projects in China's northwestern Xinjiang Uygur Autonomous Region, officials said today.
The Asian Development Bank (ADB) has approved a $100-million loan to undertake developmental projects in China's northwestern Xinjiang Uygur Autonomous Region, officials said Wednesday.
The Xinjiang Urban Transport and Environmental Improvement Project, which will receive the money, will also initiate projects to protect the environment, the bank said.
"The project will generate employment opportunities, improve the environment and urban living standards in cities covered by the intiative," Raushan Mamatkulov, urban development specialist in the bank's East Asia Department, said.
The loan will be used to build or upgrade over 100 km of roads, install road safety systems such as traffic signals and construct sanitation facilities, among others, the statement said.
The project complements other ADB-financed initiatives to improve the urban infrastructure in Xinjiang, and supports China's own drive to spur economic development in the region, it said.
Xinjiang shares borders with eight countries and provides a gateway between China and Central Asia. The region has 46 minority groups and is also one of the China's poorest regions.
The Asian Development Bank has provided about $4.9 billion to China since 1992 for urban infrastructure development and environment projects.
