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15 July 2015

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Project Loaned by ADB in 2021 Approved

2021-02-01 Download Print
It was learned from the Hunan Provincial Department of Finance on January 29 that, the loan of rural environmental improvement and green development project in Xiangxi Tujia and Miao Autonomous Prefecture from the Asian Development Bank (ADB) was approved with the amount of 200 million USD. This is Hunan’s first international financial organization and foreign government loan project approved this year, making a “good start” in this regard.

The project has a total investment of 2.849 billion CNY and will be implemented in 8 counties and county-level cities within the jurisdiction of the autonomous prefecture. The construction content includes improvement of the living environment, development of characteristic agricultural products, improvement of the industrial value chain, and the establishment of support systems. It is expected to be completed by the end of 2026. The implementation of the project will play an important role in consolidating the results of poverty alleviation, building a modern industrial system, promoting the integrated development of primary, secondary and tertiary industries, and boosting rural revitalization.

In order to cement the poverty alleviation results and help rural revitalization, in January 2018, the provincial finance authority and relevant departments planned and organized the project application in advance. Last year, the Chinese and foreign parties overcame the difficulties and challenges caused by the COVID-19 epidemic, repeatedly communicated, and made serious preparations. In October, they respectively completed project technical consultations in Beijing, Hunan, and Manila in Philippines. On January 26 this year, the project was formally approved by the ADB board of directors.

This article is from Hunan Provincial Government

Translator: Yu Jiangjiang

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