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

09-14-2010 09:07 BJT

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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

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