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World Bank Loans The World Bank's loan business in China
As one of the founding members of the World Bank, China resumed its legal seat in the World Bank on May 1980. By the first half of 2003, the World Bank had provided about $36.6 billion in loans for 245 projects in China, and China became the largest and most reputable customer of the World Bank. As an important source of financing for China in the international capital market, the World Bank has played an important role in supporting China's economic and social development. At first, the World Bank provided mixed loans to China, but in the late 1990s, due to China's per capita annual income exceeding US$ 800,1June 30, 1999, the World Bank stopped providing soft loans to China, which was the demarcation point of IDA loans. Due to the extremely uneven development of various regions in China, the World Bank continues to provide loans to the particularly poor areas in China in two ways. First, the World Bank cooperates with other multilateral organizations and groups that can provide soft loans; The other is to arrange some projects with both social and commercial benefits. In the future, most of the World Bank loans in China will be used for infrastructure projects, such as expressway and water conservancy projects in western China.