The Asian Development Bank or the ADB has passed its assistance
plan to issue loans to China, helping the country develop its
poverty-stricken mid-western regions.
The ADB's plan says that it will provide US$1.5 billion loans to
China each year from 2005 to 2007.
Above 80 percent of the loans will be directed to development
projects in the country's mid-western regions, especially the
infrastructure projects.
Besides loans, the ADB will provide China with technical support
worth of over US$11 million to reduce poverty and create better
business environment for private enterprises.
(CRI September 30, 2004)
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