China: $5.6 Billion USD For Water Conservation Projects

China Development Bank pledged 35.5 billion yuan ($5.6 billion) worth of loans to support water conservancy projects in the first quarter of the year, releasing 22.9 billion yuan to date. The loans will be spent on areas including major water conservation projects, flood prevention, disaster relief, rural water supply and others. The bank has extended financing to 86 of the 133 projects that have already commenced construction of major water conservation projects. Separately, the Agricultural Development Bank of China or ADBC also issued more than 1 trillion yuan in loans for water conservancy as of the end of March.

Source: Trading View