The board of directors of the Asian Development Bank (ADB) approved a preferential emergency loan of 400 million USD to support post-disaster recovery and reconstruction work for rural roads in Sichuan Province as well as rural and urban roads and educational facilities in Shaanxi Province.

The preferential emergency loan approved by ADB has a term of 32 years, including a grace period of eight years. Because of the disaster-afflicted areas' financial difficulties and the public welfare nature of the project, the loan's principal and interest will all be borrowed and repaid by the central government.

By People's Daily Online