China Development Bank loans 191.3 bln yuan for construction of water conservancy projects in 2023

This aerial photo taken on Dec. 4, 2023 shows the Dateng Gorge Water Conservancy project in Guiping City, south China's Guangxi Zhuang Autonomous Region.(Xinhua/Zhou Hua)

BEIJING, Jan. 14 (Xinhua) -- China Development Bank said it had issued 191.3 billion yuan (about 26.92 billion U.S. dollars) in loans in 2023 to provide more medium- and long-term financial support for the construction of water conservancy projects.

These funds have backed major water conservancy initiatives nationwide, such as the project that channels water from the Yangtze River to the Han River and the Guangdong water resources allocation project in the Beibu Gulf region, the bank said.

The loans have also supported a series of other efforts, including integrated water supply for urban and rural areas in Jiangxi and Fujian, and rural water supply initiatives in Yunnan and Hebei.

The bank said its next steps will be to prioritize the construction of key projects in the national water network, while providing targeted financial support to water conservancy construction efforts.