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China : 240-mln ADB loan granted to Beijing water treatment Company.

An agreement is signed by the Asian Development Bank (ADB) and Beijing Enterprises Water Group, one of China's leading water infrastructure operators granting the latter 240 million U.S. dollars in loans from the ADB.

The loans will be utilized to deal with an additional 600 million tons of wastewater yearly by the year 2019 through upgrades to wastewater treatment plants. The upgrades will let the plants to fulfill the grade 1A standard, which means the water can be use again for industry cooling, watering city gardens, and other uses.

The ADB's support involves of a direct loan of 120 million U.S. dollars for the Beijing-based company and its subsidiary, BEWG Environmental Group, and a complementary loan of 120 million U.S. dollars to be sponsored by commercial banks.

Moreover, the Manila-based ADB also declared technical assistance worth 500,000 U.S. dollars, which goals to assist encourage the reuse of wastewater in cities across China.

The ADB said in the statement that China is encountering water challenges due to rapid urbanization.

Above 400 cities face water scarcity, with an average daily deficit of 16 million cubic meters, equal to the average yearly consumption of about 160,000 people. Per capita freshwater resources are scarce and yearly per capita water endowments have been decreasing at an alarming rate.

The bank added that extensive water pollution is further reducing the availability of freshwater.

Beijing Enterprises Water Group, which is registered in Hong Kong, builds sewage treatment, regained water treatment and seawater desalination plants in the Chinese mainland.

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Publication:Mena Report
Geographic Code:9CHIN
Date:Nov 21, 2013
Words:270
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