National

Regional

Taiwan, HK, Macao

Special Coverage

Focus

Society

Profiles

CBD offers 120B yuan for Qinghai infrastructure

(Xinhua)
Updated: 2009-01-20 17:29

BEIJING -- China Development Bank (CDB) signed an agreement with Qinghai Province to provide at least 120 billion yuan (US$17.65 billion) in loans to the province before 2015.

Related readings:  Qinghai-Tibet rail line opens way for future  Tour de Qinghai Lake 2009 to add three new stages  Construction of 2nd phase of Qinghai-Tibet railway from Xining to Golmud starts  863 herders stranded in snow in Qinghai

The funds will be used to support infrastructure projects such as highways, airports, railroads and power facilities, the bank said Monday.

Loans will also go to industrial projects that draw on the province's local advantages, such as coal and salt lake, and programs involving living standards such as settlement projects and environmental protection, CDB said.

As of December, CDB had lent 60.6 billion yuan to Qinghai Province, of which 32.4 billion yuan was still outstanding.