ADB approves $100 mn development loan for China

September 23rd, 2009 WASHINGTON - The World Bank on Tuesday approved a 4.3 billion dollars loan for India to finance infrastructure projects, to help maintain credit growth levels, employment growth, support social banking and help strengthen the economic recovery from the global financial crisis. The loan includes a 2 billion dollar loan, which is designed for Banking Sector Support Loan, which would to boost the capital of state banks and maintain credit growth.

September 23rd, 2009 NEW DELHI - The World Bank has approved $4.3 billion in loans for India to help finance infrastructure projects and support its economic stimulus programme. "This is the crucial time to support Indian economic recovery," said World Bank country director for India Roberto Zagha.

September 17th, 2009 ISLAMABAD - The Asian Development Bank (ADB) has provided $150 million loan to Pakistan to carry out developmental works in the country's Punjab province, the Online news agency reported Thursday. Punjab is the most populous province in the country.

September 12th, 2009 ISLAMABAD - Pakistani President Asif Ali Zardari Saturday said his country wants to further bolster the existing strong bilateral ties with China and to enhance the strategic economic cooperation between the two countries. Pakistan "attaches high value to its relations with china and takes pride in the success story of China", Zardari said while speaking to Chinese ambassador in Pakistan Luo Zhaohui who visited the president here Saturday, Online news agency reported.

August 19th, 2009 AIZAWL - The Asian Development Bank (ADB) will give a $100-million loan to India's northeastern state of Mizoram for strengthening service delivery in the social sector, officials said here Wednesday. "Under the Mizoram Public Resource Management Programme (MPRMP), the ADB credit would be utilised for strengthening service delivery in the education and health sectors," Vanlalruata, additional secretary at the state finance department, told reporters.

August 11th, 2009 EU approves euro39 mln financial package for BosniaSARAJEVO, Bosnia-Herzegovina — The EU says it has approved a euro39 million ($55.39 million) financial aid package for Bosnia to help it deal with the effects of the financial and economic crisis. A statement from the European Commission said Tuesday the grant is part of a pre-accession assistance package and will support the development of small and medium sized enterprises and provide investment in infrastructure in the transport, environment, and energy sectors.

July 25th, 2009 COLOMBO - The Sri Lankan government said Saturday that the International Monetary Fund (IMF) has approved a $2.6 billion loan to Sri Lanka to support the country's reform programme. As per the agreement, $322.2 million would be immediately made available, while the remaining amount will be released based on the quarterly reviews, the government information department said in a statement.

July 25th, 2009 IMF approves $2.6 billion loan to Sri LankaCOLOMBO, Sri Lanka — The International Monetary Fund has given final approval for a $2.6 billion loan for Sri Lanka despite calls from human rights groups that the island nation should first address concerns over its human rights record. Some $322.2 million of the loan will be immediately available to Sri Lanka.

July 22nd, 2009 PHUKET - Setting aside recent strains in bilateral ties, India's External Affairs Minister S.M. Krishna held his first meeting with his Chinese counterpart Yang Jiechi and stressed that India and China are not rivals but partners in an emerging Asia.

July 18th, 2009 Boston black paper to take city loan to stay openBOSTON — The publisher of Boston's only black-owned newspaper says he'll accept a $200,000 loan from the city to avert the shutdown of the financially struggling weekly. Bay State Banner Publisher Mel Miller tells The Boston Globe "only a fool wouldn't take" the loan, which Mayor Thomas Menino offered earlier this week.

June 28th, 2009 ADDIS ABABA - China continues to make inroads into Africa, as it bagged yet another major order for building infrastructure in the East African state of Ethiopia. China's state infrastructure major, China Road and Bridge Corporation (CRBC) has signed an agreement to construct a new expressway connecting Ethiopia's capital to another city in the centre of the country, Nazreth.

June 28th, 2009 ADDIS ABABA - China continues to make inroads into Africa, as it bagged yet another major order for building an 80-km expressway in Ethiopia. The order was given without any bidding as the construction of the six-lane expressway would be financed through a Chinese soft loan worth over $700 million.

June 19th, 2009 WASHINGTON - The US Congress has approved a $106-billion spending bill that includes money for the wars in Iraq and Afghanistan and a loan to the International Monetary Fund (IMF). The wide-ranging legislation includes money for foreign aid, preventing a flu pandemic and a "cash-for-clunkers" initiative that encourages consumers to trade in older, less efficient cars to help revive the auto industry.

June 5th, 2009 EU approves loans to VolvoBRUSSELS — The European Union has approved loan guarantees to Ford Motor Co.'s Volvo unit to help it build cleaner cars. The European Commission says Volvo is planning to use euro500 million ($708 million) from the European Investment Bank for its euro1.9 billion ($2.7 billion) project to develop more fuel-efficient low-emissions vehicles.

May 23rd, 2009 NEW DELHI - The Chinese Government is considering an adjustment to its nuclear power development plan in order to boost nuclear power development in coastal areas while scientifically planning nuclear power stations inland. China is world's second-largest energy user and golden time for the country's nuclear power development has come," said Zhou Xi'an, Director of the General Affairs Department of the National Energy Administration.