China Development Bank (CDB) said Monday it has approved an emergency loan of 600 million yuan (88 million U.S. dollars) for flood-control work in China's rain-devastated regions.

An official with the bank said CDB will work to meet the capital demand of flooded regions for relief work.

According to the State Flood Control and Drought Relief Headquarters, since the beginning of the year, floods have taken toll of 381 Chinese lives across the country, of whom, more than 200 people have died in the country's 10 southern provinces and regions after heavy rains began pelting down June 13, triggering floods and landslides.

Economic losses from the floods in the 10 regions, including Fujian, Jiangxi, Hunan, and Guangxi and Guizhou, have reached 59.3 billion yuan, said the State Flood Control and Drought Relief Headquarters.

A rainstorm-triggered landslide Monday afternoon buried 107 people in southwest China's Guizhou Province, local authorities said. Casualty numbers are not immediately known. Rescue work is underway.

Go to Forum >>0 Comments