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Environmental Protection Projects to Gain Huge State Loans

Posted on: Sunday, 30 October 2005, 09:00 CST

Environmental protection projects to gain huge state loans

CHENGDU, Oct. 29 (Xinhua) -- Environmental protection projects in China will receive 50 billion yuan (6.17 billion US dollars) of loans from the State Development Bank (SDB) in the coming five years.

The State Environmental Protection Administration and the SDB signed an agreement Saturday on the loans at an international forum on environmental production held in southwest China's Sichuan Province.

According to the agreement, the SDB will offer 50 billion yuan in policy-related loans during the 11th Five-Year Program period (2006- 2010) to support the environmental protection programs.

To reach the planned goals on environmental protection in the period, China will launch nine key projects including dangerous waste disposal, urban waste water and garbage disposal, rural environmental protection and the improvement of environmental administration.

China's total investment in environmental protection is estimated to reach 1.3 trillion yuan (about 160.3 billion US dollars) in the coming five years, said sources at the forum.

As one of China's three policy banks, the SDB will give stronger support to environmental protection and improve financing of environment-related programs, said Chen Yuan, president of the SDB.

Source: Xinhua News Agency - CEIS

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