World Bank in US$ 488 million funding

The World Bank has approved finance packages totalling US$ 488 million to support power, rail and urban infrastructure projects in China, Nepal and Mongolia.

In China, the World Bank approved a US$ 300 million loan to support the construction of a 19.5 km light rail line in the city of Kunming, Yunnan province. The new stretch of track would form line three of the Kunming municipal high-speed rail transportation network plan, which eventually envisages a total of six lines covering 162 km.

A further US$ 100 million was provided to help fund the construction of urban roads, water supply networks, storm and sewerage drainage networks as well as wastewater treatment for a small town development project in China's Sichuan province.

Residents living in eight small towns and districts in Sichuan, namely Xinjin, Hongya, Pengshan, Miyi, Daying and Zizhong counties, and Jialing and Shunqing districts of Nanchong city, will benefit from this project.

Meanwhile, the World Bank also approved a US$ 63 million assistance package to help improve infrastructure and to construct a power transmission line in Nepal.

A 132 kV transmission line is planned for the Kabeli corridor in eastern Nepal. The power line will extend from Kabeli Bazaar in the north of Panchthar district to Damak in Jhapa district. Substations will also be built in the vicinity of Kabeli Bazaar and at the towns of Phidim, Ilam and Damak.

The Nepalese funds will also help finance the construction and rehabilitation of socio-economic infrastructure in six participating municipalities - Mechinagar, Dhankuta, Itahari, Lekhnath, Baglung and Tansen.

And the World Bank approved a third finance package in the form of a US$ 25 million investment credit to support mining infrastructure in Mongolia, where rich mineral deposits are poised for development.

The money is intended to finance feasibility studies for a range of new infrastructure projects - the World Bank said the total cost of building the required transport, power, water and township infrastructure in Southern Mongolia could be as much as US$ 10 billion over the next decade.