ADB Agrees to Provide $250m Aid to China, $123m Loan for Phillipines’ Water Projects

Posted in: Global News
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Photo Credit: Deal street Asia

Article courtesy of Tomas S. Noda III | March 22, 2016 | Deal street Asia | Shared as educational material

The Asian Development Bank (ADB) has extended a $250-million facility that will support China’s goal to treat harmful industrial wastewater and sludge that are generated by small and medium-sized enterprises (SMEs). CT Environmental Group will get this assistance. CT Environmental Group pioneers wastewater and sludge treatment for SMEs that operate in various industrial sectors in China. ADB’s assistance is made up of a $100-million equivalent ordinary loan plus a $150-million equivalent complementary loan in US dollars and yuan. Commercial banks fund these loans. ADB, however, acts as the lender of record. CT Environmental Group is to use the loan funds “to build, own, and operate a series of specialized industrial wastewater and sludge treatment plants in designated areas.” Local governments will determine which areas. Read more online: http://bit.ly/2f5Fs7d

 

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