ADB lends, invests $214m in China airports

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MANILA, Jan 5 (AFP): The Asian Development Bank (ADB) is to lend and invest a total of 214 million dollars in China's airports, its first foray into the sector, the Manila-based financial institution announced today.
The move is part of a project to develop the economy in China's western region and mobilise private sector funding for its airports so that local governments can channel funding into social welfare programmes, the ADB said.
The ADB will make a 50-million-dollar equity investment in HNA Airport Holding Group Co Ltd, a private company primarily involved in the privatisation of China's airports.
The ADB will also extend a loan of 1.2 billion yuan (164 million dollars) to the project, with risk participation from international banks.