ADB offers $300m loans to road project in China

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BEIJING, Aug 18 (Xinhua): The Asian Development Bank (ADB) is giving a loan of 300 million US dollars to fund development of a road network in southwest China's Guangxi Zhuang autonomous region.
The Western Guangxi roads development project, which will link the region and nearby Vietnam, is estimated to cost 1.57 billion US dollars and be completed in more than five years.
Xiaohong Yang, senior financial analyst of ADB's East Asia Department, said the project would benefit 2.3 million people, 80 per cent of them from ethnic minorities and 30 per cent living on less than one dollar a day, particularly in the border area.
Yang said the project constituted part of a key transport corridor in the Greater Mekong Subregion (GMS), contributing to improved infrastructure connections between China and Vietnam.