ADB to Fund Chinese Dam Rehabilitation Project

Asian Development Bank has approved a $29.8m loan to rehabilitate and improve the efficiency of water reservoirs in the drought-stricken Shandong province of China.

The Manila-based bank offered the loan to fund the Risk Mitigation and Strengthening of Endangered Reservoirs in Shandong Province Project.

The loan will rehabilitate nine ageing dams, which will set the standard for efficient, safe and cost-effective reservoir operations and management in the country.

The project will also provide more water for agriculture and household use, improve the quality of reservoir releases, preserve water quality and improve groundwater resources.

The loan from ADB makes up 33% of the total project cost of $90m, and will have a 25-year maturity, including a grace period of five years.