IMF, World Bank & IFI Round-Up

The World Bank and the French Development Agency (AFD) will loan China more than USD 900 million for reconstruction of areas devastated by the May 12 earthquake. Officials from the two organizations made the announcement Sunday at the ongoing EU-Sichuan Investment and Cooperation Conference in Chendu, capital of southwestern Sichuan Province, which was hardest-hit by the 8.0-magnitude quake. The World Bank planned to provide an emergency recovery loan of USD 710 million. Part of the money, USD 510 million, will be allocated to Sichuan.

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