Environmental protection projects in China will receive 50
billion yuan (US$6.17 billion) of loans from the State Development
Bank (SDB) in the coming five years.
The State Environmental
Protection Administration and the SDB signed an agreement
Saturday on the loans at an international forum on environmental
production held in southwest China's Sichuan
Province.
According to the agreement, the SDB will offer 50 billion yuan
in policy-related loans during the 11th Five-Year Program period
(2006-2010) to support the environmental protection programs.
To reach the planned goals on environmental protection in the
period, China will launch nine key projects including dangerous
waste disposal, urban waste water and garbage disposal, rural
environmental protection and the improvement of environmental
administration.
China's total investment in environmental protection is
estimated to reach 1.3 trillion yuan (about US$160.3 billion) in
the coming five years, said sources at the forum.
As one of China's three policy banks, the SDB will give stronger
support to environmental protection and improve financing of
environment-related programs, said Chen Yuan, president of the
SDB.
(Xinhua News Agency October 30, 2005)