Society

CCB lend 1 billion yuan for quake reconstruction

(Xinhua)
Updated: 2010-05-21 22:31

BEIJING - China Construction Bank (CCB), one of the country's four leading state-owned lenders, announced Friday it is set to lend 1 billion yuan ($146.5 million) for reconstruction in quake-devastated Yushu in northwest China's Qinghai Province.

The April 14 quake took the lives of at least 2,200 and injured another 12,135.

The CCB made the commitment to the Qinghai Development and Reform Commission, the top provincial economic planner, to finance reconstruction of transportation, electricity, telecommunication and education facilities, the bank told Xinhua Friday.

China's central government has allocated 9 billion yuan ($1.3 billion) this year for reconstruction in quake-hit Yushu, according to a statement issued after a Wednesday executive meeting of the State Council, China's Cabinet.