The World Bank has approved two loans totaling 700 million dollars for China to help improve water scarcity in the Yellow River basin and green agriculture in Southwest China.
According to Xinhua News, the World Bank’s Board of Executive Directors on March 31, approved two loans for China, including a 380 million dollar loan to help China address water scarcity and ecosystem degradation in the Yellow River basin, and another 320 million dollar loan to promote green agriculture and rural development in Southwest China.
More specifically, the 380 million dollar program will complement over 1.1 billion dollars of China’s own resources to promote water use efficiency, strengthen water pollution control and improve ecosystem management in the river basin area.
This program contributes to global biodiversity conservation and climate change mitigation.
Martin Raiser, World Bank Country Director for China, Mongolia, and Korea, said that this program takes the long-standing cooperation between World Bank and China on water resources management and ecosystem protection in the Yellow River basin to a new and innovative level.
He added, “By generating better estimates of water availability and building integrated management plans within sustainable water consumption limits, the program will help China reconcile trade-offs over scarce natural resources and realize its vision of a thriving Yellow River.”
In addition, the other 320 million dollar financing will complement over 4.69 billion dollars of China’s own resources to help reduce agricultural plastics pollution and greenhouse gas emissions from agriculture.
According to the World Bank, this program promotes biodiversity conservation and restoration to integrate environmental goals in government rural revitalization plans and investment projects.
Raiser said, “This program will introduce targets for greening agriculture and at the same time help enhance the effectiveness and impact of the government’s rural revitalization program in Guangxi and Guizhou, generating lessons that can be applied nationally.”