ADB to lend US$ 100M to project in Nanning
(Xinhua)
Updated: 2006-06-30 17:19
The Asian Development Bank (ADB) will loan US$ 100 million to help a project
of urban environment protection and public health in Nanning, capital of China's
Guangxi Zhuang Autonomous Region, an ADB report said in Manila Friday.
The project comprises four subprojects, which are expected to improve flood
control, wastewater and solid waste management, and expand the city's green
environment, the report said.
The total cost of the project is estimated at 262.6 million U.S. dollars.
ADB's loan, which covers 38 percent of the total cost, comes from its ordinary
capital resources. It carries a 25-year term, including a grace period of 5
years, it said.
The Nanning Municipal Government, the project's executing agency, will
shoulder 151.6 million U.S. dollars of the cost, and local banks will cover the
balance of 11.1 million U.S. dollars in loan.
The project is due for completion around December 2010, benefiting more than
three million residents, according to the report.
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