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From July 1, 2005 to June 30, 2006, the World Bank promised to give loan worth US$1.455 billion for support of 11 projects in China, the Ministry of Finance announced Thursday.

 

The World Bank consented to loan US$400 million to support three agricultural projects in China, US$648 million for four urban construction projects, US$300 million for two transportation projects, US$87 million to support one energy project and US$20 million for a technological assistance project.

 

Besides, another US$98 million worth of grant will be transferred to China thanks to the World Bank's mobilization, the Ministry of Finance said.

 

Since China resumed its legal seat in the World Bank in 1980, the bank has promised to offer loan totaling US$40.6 billion to China, according to the ministry.

 

(Xinhua News Agency July 14, 2006)