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WB Picks Projects for Funding

The World Bank on Wednesday selected 100 projects for its second China Development Marketplace initiative, a program that finances innovative ideas and projects from grassroots civil society organizations.

The projects were selected out of a total of 385 applications. They focus on agriculture, healthcare, AIDS prevention, poverty reduction, environment, energy saving as well as services for migrant workers.

After being independently assessed by an expert panel, 50 projects will be chosen in June, with each receiving a funding of 200,000 yuan (US$ 28,139.29).

The World Bank initiated the program in partnership with the Ministry of Civil Affairs and State Council Leading Group Office for Poverty Reduction and Development.

(China Daily March 6, 2008)

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