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World Bank and Agent of French Development (AFD) will provide US$700 million loans to support post-disaster reconstruction of Sichuan Province, said sources from the EU-Sichuan Investment Cooperation Meeting held on last Monday.
As one of the five international financial institutes invited by the Chinese government to offer international financial service to the reconstruction, World Bank will issue a loan plan involving a total of US$500 million to support the reconstruction in post-quake Sichuan, said head of the China and Mongolia Sustainable Development Department of World Bank. According to him, US$450 million of the loans will be contributed to the infrastructure construction in 16 cities, involving the reconstruction of road, bridge, water pipe and so on. The rest will be used to the reconstruction of public sanitation and educational facilities.
Meanwhile, AFD plans to offer US$200 million loans to support the infrastructure construction and the installation of biomass raw fuel gas system in the quake-hit cities by the end of this year, disclosed Ms.Martha, head of AFD Asian Department, who will attend the reconstruction project on behalf of the French government. “If local enterprises or institutes can offer suitable cooperation items, we'd like to discuss the feasibility of cooperation with them,” she said.
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