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The World Bank approves:
A US $200 million Guangxi
Highway Project will support the construction of a
238-kilometer inter-provincial highway to connect Nanning, the
provincial capital of Guangxi, to Shuiren in the north, creating
a key section of China's National Trunk Highway System. This new
highway will connect the relatively poor, land-locked interior
provinces of Guizhou, Yunnan, Sichuan, and the city of Chongqing
to the southern seaport of Beihai and Fangcheng in Guangxi and
Zhanjiang in Guangdong province, bringing a shorter and faster
route to the sea. The new highway will give an economic boost to
one of China's poorest areas by promoting commerce, trade, and
tourism in the region, serving approximately 4 million people in
its wider area of influence, 80 percent of whom are ethnic
minorities.
Loan Terms: Maturity=20 years, grace period=5
years
A US$350 million Fourth
National Highway Project in order to support construction of
the 300-kilometer Wuhan-Changsha expressway, the central section
of the highway linking Beijing to Hong Kong. The project is the
fourth in a series of World Bank-funded operations to help China
improve its highway system between Beijing and Guangzhou,
providing an important trade link between some of the country's
major cities, and integrating remote parts of the country with
major urban areas. The Wuhan-Changsha expressway is the central
portion of a larger, 2,500 kilometer Beijing-Guangzhou
expressway. When completed, it will connect the capital cities
of Hubei and Hunan and will serve approximately 40 million
people in its wider area of influence. The project would also
help to alleviate growing income disparities between interior
and coastal provinces through improved access to coastal port
cities and increased integration of Hunan and Hubei into the
world trading system by contributing more to Chinese
international trade.
Loan Terms: Maturity=20 years, grace period=5
years, commitment fee=0.75. |
China in Brief
