ADB approves Hebei road loan

The Asian Development Bank (ADB) yesterday approved a US$180 million loan to the mainland to improve roads in the impoverished areas of Hebei. The loan, repayable over 24 years, included a four-year grace period with interest to be based on the ADB's pool-based system for US dollar loans, presently 6.93 per cent a year, the Manila-based bank said.