The Agricultural Development Bank of China, one of China’s three policy banks, announced on Thursday that one-third of the loans it plans to extend this year would go into funding water conservation projects.
The funding is part of government measures for improving underdeveloped water conservation efforts.
The lender said that the loans would be used for building farm irrigation facilities, harnessing rivers and lakes, reinforcing reservoirs, and conserving soil and water resources.
By the end of 2010, the bank had extended 103.7 billion yuan (15.71 billion U.S. dollars) to fund 1,362 water conservation projects.
China vowed to invest 4 trillion yuan in water conservation projects over the next 10 years as many cities face water shortages and the overhaul of irrigation facilities.
