World Bank’s first agricultural fund project in China settled in Henan

The National Development and Reform Commission has approved on the funding project from the World Bank, who loans USD 300 million to support Henan ’s high-quality green agricultural development, according to Henan Development and Reform Commission on March 11.

The National Development and Reform Commission has approved on the funding project from the World Bank, who loans USD 300 million to support Henan ’s high-quality green agricultural development, according to Henan Development and Reform Commission on March 11.

The approval means that the World Bank ’s first green agricultural fund project in China is settled in Henan Province.

The World Bank has established Henan’s high-quality green agriculture development promotion fund to support Henan’s green agriculture and related projects such as waste resources utilization from livestock and poultry breeding, water-saving irrigation, pesticide reduction and harm control, as well as improving relevant institutional capacity.

The initial fund is set at 4.2 billion yuan, including the USD 300 million from the World Bank, the rest of which will be raised by the local governments. The loans from the World Bank are used in green agriculture (USD 285 million) and technical assistance (USD 15 million).

Source: china.org.cn

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/07/world-banks-first-agricultural-fund-project-in-china-settled-in-henan/.

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