The People's Bank of China, the country's central
bank, revealed on Wednesday that China's financial institutions
will offer loans of 107 billion yuan, or nearly 13 billion US
dollars, to four provinces in China's southwest region this year.
The four provinces are Sichuan, Yunnan, Guizhou Provinces and the
Tibet Autonomous Region. The loan will be used to fund key
projects in a bid to improve the western region's water
conservation, agricultural ecology and the telecommunications
network. The Western region will also apply funds to support
projects such as sending electric power and natural gas from
western China to the eastern. The central bank will regulate the
distribution and usage of the loan. Economists say the loan will
help speed up the development of western China.
China Central Television
|
