ADB $100 Million Loan to PRC to Improve Productivity, Incomes from Forestry
MANILA, PHILIPPINES - The Asian Development Bank (ADB) is extending $100 million to raise the productivity of orchards and natural forests to increase incomes in areas of northwest People's Republic of China (PRC) that suffer from some of the worst land degradation and poverty rates in the country.
The ADB Board of Directors approved the loan from ordinary capital resources for the Forestry and Ecological Restoration Project which will be carried out in the provinces of Gansu and Shaanxi, as well as the Xinjiang Uygur Autonomous Region. Along with planting thousands of hectares of fruit and nut trees, which will bring economic benefits to over 200,000 households, the project will reforest large areas of hilly and environmentally damaged land. It will also incorporate an innovative integrated ecosystem management approach and support carbon sequestration and climate change mitigation measures.