The World Bank’s Board of Executive Directors approved a loan to China –$200 million to support the Shanghai Urban Environment Project.
The Shanghai Urban Environment Project, the third phase of the Bank’s Adaptable Program Loan (APL) started in 2003, will focus on increasing the secure provision of good quality water, reducing pollution load discharged without treatment into water sources, and facilitating sustainable investments in environmental infrastructure in suburban areas of Shanghai Municipality.
Through the first two phases, the Bank supported several key infrastructure investments and institutional and policy reforms in the water, wastewater, and solid waste sectors.
The new $200 million loan will finance the construction of infrastructure projects such as Nanhui Raw Water Conveyor and Puxi Trunk Sewer, further contributing to Shanghai’s goal of building a resource-efficient and environmentally sustainable city and hosting a successful “World Expo 2010: Better City – Better Life“.
“The APL program has facilitated significant institutional and sector reforms, such as establishment of the District Financing Vehicle for financing utility investments in suburban district and issuance of the first corporate bond in China in the urban wastewater sector, in addition to financing environmental infrastructure investment,” said Hiroaki Suzuki, Task Team Leader and East Asia and Pacific Region Urban Sector Leader.
