ADB approves 420-mln-USD loans for China-Mongolia border ports

Xinhua
26 Oct 2020, 11:05 GMT+10

HOHHOT, Oct. 26 (Xinhua) -- The Asian Development Bank (ADB) has approved up to 420 million U.S. dollars for a multi-tranche financing facility to improve economic opportunities and living conditions along the border between China's Inner Mongolia Autonomous Region and Mongolia, according to Inner Mongolia's development and reform commission.

The loans will mainly help fund the use of smart port management, smart drip irrigation with reclaimed water, and smart waste collection and transfer in the border ports in Inner Mongolia, the commission said.

The loans will also support the building of protective forest strips and the use of renewable and clean energy for heating in the border ports.

The program will help improve the production and living conditions in the border ports and also further boost trade growth between China and Mongolia.

The remote ports between the two countries often have poor infrastructures, affecting economic growth and international trade in regions along the border.

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