ADB seeks bridge aid
THE Asian Development Bank has invited commercial financial institutions to provide a further US$79 million to finance the construction and development of the Shanghai Yangpu bridge project.
The co-financing facility is in addition to a principal loan of $85 million to China through the People's Bank of China, which acts as the borrowing window.
The principal loan and the co-financing facility will be signed today (19th) in Shanghai. The co-financing facility, jointly co-ordinated by Dai-Ichi Kangyo Bank and Hongkong Bank China Services, composes three tranches.