International Finance Corporation to provide loan for water plants in China

The International Finance Corporation (IFC), a member of the World Bank Group, has agreed to support China Everbright International with a $70m loan to build three water plants in the country.

Everbright’s new water projects are expected to further develop China’s water sector and promote water efficiency in the country.

The company will utilise the loan to expand its environmental water business by constructing a wastewater treatment plant, a wastewater reuse plant and a ground water plant in the country.

Using the IFC fund, the company will design the wastewater treatment plant with a capacity to produce 150,000 cubic metres per day (m³/d) of wastewater, while the reuse plant will have a capacity to recycle 20,000m³/d of water.

China Everbright International chief executive officer Chen Xiaoping said the IFC financing and global network in the water industry will help the company better integrate its businesses across the supply chain.

"With IFC’s help, we will adopt global best practices that are important for making our company more international," Xiaoping added.

IFC executive vice president and CEO Jin-Yong Cai said the financial institution is supporting countries to improve their water security.

"This investment will support the establishment of state-of-the-art water facilities, help make the China’s water sector more efficient, and promote global best practices," Cai added.

China is facing water shortage due to increasing population, growing economy, and urbanisation, and wants to reduce water pollution and improve efficiency.

The country’s government is adopting a multifaceted approach that combines economic and environmental regulations at the national and provincial levels.

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Image: The IFC headquarters in Washington, US. Photo: Courtesy of AgnosticPreachersKid.