April 5, 2012 / 3:17 AM / 6 years ago

World Bank readies $100 mln for rural China-Xinhua

BEIJING, April 5 (Reuters) - The World Bank plans to extend $100 million of loans to help build rural infrastructure and preserve ancient residences in eastern China’s Huangshan city, the official Xinhua news agency reported on Thursday.

The city, named after a mountain there, needs $200 million for a five-year project, which will start towards the end of 2012, to build roads to villages, clean up the rural environment and protect houses from ancient times, the report said.

Xinhua said that the World Bank had sent an inspection team to the city before approving the loan, which it said was the first of its kind from the Bank to China to help construct modern villages while preserving historical buildings. (Reporting by Langi Chiang and Koh Gui Qing; Editing by Nick Edwards)

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