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ADB Lending to China Well over US$17 Bln

The Asian Development Bank (ADB) has granted a total of US$17.76 billion in loans to China over the past two decades, making the country the second largest borrower from the Philippines-based lender after Indonesia.


About 41 percent of the total loan amount was granted for transport projects and 23 percent for water supply, sewage treatment and other urban development projects, said Toru Shibuichi, country director of ADB China Resident Mission.


About 25 percent of the money was invested in rural projects and natural protection projects, such as water and soil conservancy, he said.


Another 10 percent of the loan was used for energy projects, including the development of coal bed gas and hydropower, he said.


The ADB has also offered US$280 million of technical assistance to China in recent years, he said.


The ADB was founded on Dec. 19, 1966 and China became a full member of the organization in March 1986.


In 2005, China contributed US$30 million to ADB's Asian Development Fund and another US$20 million for the establishing of the "China Special Fund for Poverty Reduction and Regional Cooperation" within the ADB.


(Xinhua News Agency January 13, 2007)

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