ADB Approves $300m Loan to Catalyse Green Transformation of Chinese Industrial City
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The Asian Development Bank (ADB) has approved a $300 million loan to help fund a $665 million project to Catalyse Green Transformation by reducing poverty, cutting carbon emissions and improving urban liveability in Changzhi, a city of 3 million people in a major Chinese coal-producing province.
“Knowledge gained from the project will serve as a model for replication in other heavy-industry regions,” ADB Principal Urban Development Specialist Stefan Rau said in a statement.
The project will include building treated wastewater reuse facilities, putting electric buses on roads and creating bicycle-paths made from construction waste.
The ADB loan is a sign of the Chinese government’s commitment to tackling climate change and transitioning to a greener economy. The project is expected to be completed by 2030 and serve as a model for other heavy-industry regions in China and beyond.
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