wants to help the mainland restructure its economy and reduce poverty by promoting sustainable economic growth in a way that benefits the poor. It estimates that more than 90m rural residents live in poverty.
More than three-quarters of the lending will go towards central and western regions, especially in the areas of transportation and social infrastructure.
In late September, the ADB announced a US$150m loan to improve flood control in the Songhua River Basin. Some 62m people live in this river basin in north China, which includes the cities of Harbin and Changchun. In 1998, the basin experienced its worst floods in 200 years, inflicting loss of life and economic damage equivalent to US$7.3bn.