A China Development Bank lead syndicate has signed a syndicated loan agreement for CNY5.3 billion with the relevant departments of Jiangxi province, enabling the start of Jiangxi's sewage treatment facilities construction project.
Jiangxi is reportedly planning to complete the construction of sewage treatment facilities and related pipe networks in its 80 counties and towns in two years It is hoped that the sewage treatment rate in 2010 would exceed 70%.
The syndicate is formed by CDB, Agricultural Development Bank of China, China Construction Bank and another five financial institutions. According to CDB, the leading bank of the syndicate, they will offer high-quality financial services in three ways: financing services and loan grants; post-lending management; and insisting on the method of "programmed by the government and operated by the market".
The president of CDB Chen Yuan says that CDB will deepen cooperation with Jiangxi province in infrastructure and environmental protection for the construction of a "green and ecological province"; meanwhile it will further support undertakings concerning people's livelihood such as new countryside construction and education.
