MANILA: The Asian Development Bank’s (ADB) said on Tuesday that it has approved a 150-million-U.S. dollar loan to protect a water basin of the Yangtze River.
The ADB said the loan for a complementary set of initiatives to improve flood management, clean water supplies, and ecological conservation in the Longxi River watershed is a key project under ADB’s new Yangtze River Economic Belt Framework, reports Xinhua.The Manila-based bank said the framework will provide around 2 billion U.S. dollars over 2018 to 2020 to support the twin issues of economic and environmental development in the upper and middle reaches of the river.
It supports the Chinese government’s focus on development along the Yangtze River and continues ADB’s longstanding work in the area, the ADB said.
“This project marks a new coordinated approach to managing the overlapping issues of floods, water quality, and the ecosystem that could be replicated throughout (China) and, indeed, elsewhere,” said Senior Water Resources Specialist in ADB’s East Asia Department Rabindra Osti.
“The Longxi River watershed has suffered from some of the worst floods in Chongqing municipality and only by addressing the issues together, can we make the region safer and more prosperous over the long term,” Osti added.
According to the ADB, the Chongqing Longxi River Basin Integrated Flood and Environmental Risk Management Project will finance flood mitigation and preparedness measures including building ecological embankments, emergency shelters and access roads.