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ADB grants $500,000 for China roads
UPI, Washington Times (6 Aug 2004)

MANILA, PHILIPPINES: The Asian Development Bank said Friday it will grant China $500,000 to improve its roads.

The Manila-based ADB said the money will allow the country to upgrade its transportation system to meet China's rapidly rising needs.

"The existing policy and regulatory framework for road transport (in China) is not yet sustainable for a market economy," said ADB economist Makoto Ojiro.

The grant will be used to draw up a road transport reform action plan based on a review of the existing policy and regulatory framework, discussion with stakeholders, and field surveys, the ADB said.

The bank has provided 27 road-building loans totaling $4.8 billion and grants totaling $12.9 million to China since 1991.

http://washingtontimes.com/upi-breaking/20040806-113413-4249r.htm

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