World Bank, France Lend China $900M for Rebuilding
China is receiving financial support from France and the World Bank to rebuild areas devastated by the May earthquake in Sichuan. From AP:
The official Xinhua News Agency said the World Bank will provide a loan of $710 million to China — $510 million of which will be allocated to southwestern Sichuan province, hardest hit by the May 12 quake that left nearly 90,000 people dead or missing.
The rest will go to neighboring Gansu province, Xinhua said, citing Ede Ijjasz, a World Bank manager for China and Mongolia. Xinhua said the loans still need board approval by the international lending institution in December.
The money will be used for the construction of roads, bridges, water pipelines, hospitals and child care facilities, the report said.