- CNTV English - CCTV News

Finance Minister: World Bank vital for China's economic dev't

09-14-2010 09:07 BJT

Watch Video

Play Video

As of June this year, China received 48 billion U.S. dollars worth of loan commitments from the World Bank. The funds have been put towards several hundred projects, including highway construction, water conservation, sewage disposal and poverty relief. Chinese financial minister Xie Xuren says the World Bank has played a vital role, in China's economic growth in the past 30 years.

Xie Xuren, Minister of Ministry of Commerce said "By using the World Bank's funds in past years, China has made great improvements to infrastructure, in fields including transport, energy, agriculture and environmental protection. The construction has not only laid the foundation for economic growth, but also played a role in boosting development in China's central and western regions. The loans account for almost half of all overseas investment. At one stage, World Bank loans reached a record high of 3 billion U.S. dollars a year."

Editor:Xiong Qu |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program