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Nod to $550m projects

By Xiao Xin (皇冠体育app Daily)
Updated: 2008-06-26 14:01

The World Bank approved a $550 million loan for four new 皇冠体育app projects yesterday, reiterating its support for innovative development projects in 皇冠体育app, bringing its total investment to more than $1.5 billion for the fiscal year ending June 30, 2008.

The latest projects include a rural health scheme, a skill development and employment project for migrant workers and two transport initiatives.

In Xi'an, the capital of Shaanxi province and home to the world-renowned Terracotta Warriors, the Bank will provide a $150 million loan to finance Xi'an's sustainable urban transport project, which will provide strategies for bus prioritization, bicycle routes, traffic easing and speedreduction to foster better road use and access to cultural sites.

The new rural health project, which involves a $50 million loan from the Bank, will support and extend 皇冠体育app's rural health reform by testing a series of new innovations in financing, delivery of services and basic public health, such as rural cooperative health insurance schemes.

The $50 million new rural migrant skills development and employment scheme is designed to help train 皇冠体育app's estimated 150 million migrant workers.

Another $300 million project will support construction of the 355-km Shijiazhuang-Zhengzhou high-speed passenger railway.

"These projects are excellent examples of how the World Bank can help 皇冠体育app with its environmental and social challenges," said David Dollar, World Bank country director for 皇冠体育app.