BEIJING, Sept 30 (Reuters) - The Asian Development Bank (ADB) said on Saturday it had approved a $300 million loan to an industrial city in a major Chinese coal-producing province to help "catalyse green" transformation of the city of 3 million people.
The loan for Changzhi in the northern province of Shanxi will help fund a $665 million project, partly financed by the Chinese government, to reduce poverty, cut carbon emissions and improve urban liveability in a city that has long depended on coal, the ADB said.
"Knowledge gained from the project will serve as a model for replication in other heavy-industry regions," ADB Principal Urban Development Specialist Stefan Rau said in a statement.
As part of the project, Changzhi will build treated wastewater reuse facilities, put electric buses on roads and create bicycle-paths made from construction waste.
Reporting by Ryan Woo; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.
Persons:
Stefan Rau, Ryan Woo, William Mallard
Organizations:
Asian Development Bank, Changzhi, ADB, Urban, Thomson
Locations:
BEIJING, Shanxi, Manila