World Bank grants loan for agriculture projects (Xinhua) Updated: 2004-09-29 11:23
Jiangxi Province has started a modern agricultural project with a loan of
US$100 million from the World Bank, according to the provincial government
office responsible for absorbing foreign investment.
This is the biggest loan Jiangxi has ever used in its agricultural
development, said the office.
Jiangxi plans to invest 1.28 billion yuan (US$154 million) in a comprehensive
modern agriculture project. Of the total investment, 65 percent will come from
the World Bank's loan.
The project, carried out in 21 counties, cities and districts in the
province, will cover a wide range of agricultural development, including
irrigation, farmland transformation, processing of agricultural products and the
construction of a market-oriented system.
Under the scheme, 54 percent of the funds will go to irrigation and 30
percent be used in transformation of farmland.
The project, aimed at sustainable development of Jiangxi's agriculture, is
scheduled to end in 2007.
