The World Bank will grant a US$200 million loan to finance the improving of rural roads in East China’s Anhui province, the local financial regulator said on Tuesday.
The Ministry of Finance is now in talk with the World Bank over the loan, the first result-oriented loan provided by the bank to the country’s transport section, according to the Department of Finance of Anhui Province.
The loan will support ten counties across the province to renovate, extend and maintain rural roads, the department said.
Anhui’s transport section has used US$2.1 billion of international loans, 61.9 percent of which are from the World Bank, said an official with the International Debt Office of the department.
Thanks to the loans from international banking institutions, the shortage of capital in the province’s transport area was alleviated, and construction and management of transport facilities were improved, according to the official.