Asian Development Bank grants $100m to improve Chinese water treatment infrastructure
China Water Affairs Group (CWA) has secured a $100m loan from the Asian Development Bank to improve water supply infrastructure in the country.
The loan will be made available to CWA under a B-Loan Facility agreement between the two entities.
Proceeds from the loan will be employed to acquire, upgrade, expand and operate water networks in second and third-tiered cities in China.
CWA chairman Duan Chuan Liang said, "We are glad to work together with ADB to accelerate our expansion of city water supply operations in the country.
"Our move echoes the government's initiative outlined in its Twelfth Five-year plan to upgrade and improve water domestic supply facilities and capacity, thereby making people better off," added Liang.
ADB had earlier inked a $100m direct loan arrangement in July 2011 and is part of the lending agency's efforts to support private sector's participation in water distribution for boosting water treatment capacity and enhancing water efficiency in the region.
ADB Private Sector Operations Development principal investment specialist Hisaka Kimura said that the objective of the B loan is to share the Bank's development mission with partner banks.