ADB gives $100 mn loan to China
June 25th, 2011 - 3:32 pm ICT by IANSBeijing, June 25 (IANS) The Asian Development Bank (ADB) has approved $100 million in loan to help China’s remote counties build new infrastructure and boost tourism.
The projects include construction and upgrading of roads, water supply, waste disposal and heating systems for counties in Xinjiang Uygur region, the China Daily reported.
“Developing this badly-needed infrastructure will improve the quality of life of about 100,000 residents in five counties,” said Jingmin Huang, ADB urban development specialist.
A major chunk of the fund will help develop Altay - in the northern part of Xinjiang and with borders with Kazakhstan, Mongolia and Russia. The region has a number of scenic attractions, making tourism a potentially important contributor to the local economy, a statement said.
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