The World Bank will provide loans for China's future
infrastructure construction to support its urbanization, said its
Vice President Katherine Sierra in southwest China's Chongqing
Municipality on Wednesday.
Speaking at the ongoing 2005 Asia Pacific Cities Summit, Sierra
said China has already done a good job and set other developing
countries an example in city infrastructure construction.
She said China's urbanization features high economic growth and
poverty alleviation.
Currently, about 80 percent of the country's economic growth is
in its cities and townships and it is heading toward being an
increasingly urbanized society.
She said the World Bank will assist China in ensuring power
supply, communications, traffic and environmental management, as
well as in improving investment environments, technological
innovation and research.
Sierra added that the bank's focus will shift to cities in
western areas like Chongqing and the provinces of Sichuan?and
Yunnan?and
Guangxi
Zhuang Autonomous Region.
She said the World Bank has already approved two loans worth
US$380 million in total to improve the sewage disposal capacity and
the water supply system in Chongqing.
(Xinhua News Agency October 13, 2005)