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WB offers US$120m loan to support China's eco-farming

(Xinhua)
Updated: 2008-12-03 19:47

BEIJING -- The World Bank's (WB) China Office announced on Wednesday the WB's board of executive directors had approved a loan of US$120 million for an eco-farming project in China.

The office said farmers in central China's Anhui and Hubei provinces, Chongqing Municipality, Hunan Province and Guangxi Zhuang Autonomous Region in southwestern China would benefit from improved rural environment and living conditions through the project.

Related readings:  China must cut energy consumption per unit of GDP by 7% annually  Macro-eco policies to keep China's economy going

The WB loan would cover half of the project costs, with the other half would be financed through counterpart funding.

The project would assist farmer households to integrate biogas into their agricultural production systems. The loan would be used to build biogas digesters, improved kitchens, animal sheds, and toilet facilities in the households.

The project would also help develop local extension and training facilities for rural energy and agricultural services, provide equipment and materials for the service systems, training for farmer technicians and farmers, and support farmer biogas organizations.

Funding will be provided over the next five years, to be spent over the next 20 years.