World Bank loans for China rail, road projects
21 April 2009
The World Bank has approved loans totaling US$ 450 million to finance road and rail projects in central and western China.
The a statement the World Bank said US$300 million would help finance a 857-km electrified rail line linking Guiyang, capital of southwest China's Guizhou Province, with Guangzhou, capital of Guangdong Province.
The project, which has a total cost of US$ 12.5 billion, would provide a direct connection between some of China's poorest areas and the more developed Pearl River Delta region.
The remaining US$ 150 million would go to a highway project in central Hubei Province that would connect the cities of Yichang and Badong. The inter-city highway is part of a bigger network that connects more developed eastern regions with less developed western regions.
About half of the World Bank's investment in China has helped finance transport projects.