ADB aid for China, RI

ADB aid for China, RI

MANILA (AFP): The Asian Development Bank (ADB) said Saturday it had approved about US$593.9 million in loans and grants to China, Thailand, Cambodia and Indonesia.

The biggest aid, amounting to $386.9 million will go China. The aid will consist of in three loans and two technical assistance grants.

The bank said the aid for China will be used to help finance expressway projects, agricultural development and improvement of soil and water conservation.

A loan of $180 million will go for rural road improvements in Thailand, while a $25.1-million loan will also go to improving rural roads in Cambodia.

A $1.5-million technical assistance grant will go to Cambodia's Ministry of Rural Development to help it in managing activities related to the road project.

Indonesia will receive a $900,000 grant to prepare studies on a proposed project to develop the ports of Balikpapan, Banjarmasin and Gresik, the ADB said, adding that the project would likely receive ADB financing.