Yichang receives Hubei's first ADB rural loan
2023-11-25 20:11:07
Chinese version by Wang Ying, Sanxia Business News
English version edited by Tan Maolin, Yichang International Communication Studio
Yichang has obtained the first Asian Development Bank loan for a rural green development project in Hubei Province. The total investment of the project is roughly €378 million (US$414 million/2.96 billion yuan), of which the ADB provides approximately €187 million in loans.
This project includes six sub projects located in three county-level cities in Yichang (Yidu, Zhijiang and Dangyang) as well as Xingshan County, Yiling District and Yichang Academy of Agricultural Sciences.
Expected to be completed by 2029, the project focus is on the development of modern agricultural industries, rural habitat environment improvement, rural infrastructure construction and the building of institutional capacity.
The project will strengthen institutional capacity in modern agricultural practices and innovative technologies while working to reduce air pollution and carbon emissions. These efforts will make Yichang a leading area in rural green revitalization and development along the Yangtze River Economic Belt.
In fact, ADB's cooperation with Yichang goes beyond that. Previously, ADB has provided loans to the Yichang Comprehensive Urban Transportation Improvement Project, the Yichang Comprehensive Elderly Services Demonstration Project, and the PPP Demonstration Project, which refers to co-operation between government and private capital, mostly on infrastructure projects.
English version edited by Tan Maolin, Yichang International Communication Studio
Yichang has obtained the first Asian Development Bank loan for a rural green development project in Hubei Province. The total investment of the project is roughly €378 million (US$414 million/2.96 billion yuan), of which the ADB provides approximately €187 million in loans.
This project includes six sub projects located in three county-level cities in Yichang (Yidu, Zhijiang and Dangyang) as well as Xingshan County, Yiling District and Yichang Academy of Agricultural Sciences.
Expected to be completed by 2029, the project focus is on the development of modern agricultural industries, rural habitat environment improvement, rural infrastructure construction and the building of institutional capacity.
The project will strengthen institutional capacity in modern agricultural practices and innovative technologies while working to reduce air pollution and carbon emissions. These efforts will make Yichang a leading area in rural green revitalization and development along the Yangtze River Economic Belt.
In fact, ADB's cooperation with Yichang goes beyond that. Previously, ADB has provided loans to the Yichang Comprehensive Urban Transportation Improvement Project, the Yichang Comprehensive Elderly Services Demonstration Project, and the PPP Demonstration Project, which refers to co-operation between government and private capital, mostly on infrastructure projects.
