[Photo provided to chinadaily.com.cn]
The Asian Development Bank has committed $150 million loan to the South Dongting Lake Wetland Ecological Restoration and Sustainable Development Project, which is co-financed in the amount of $65 million equivalent from the French Development Agency. The project is expected to serve as a model for wetland conservation and sustainable development across the Asia-Pacific.
An inauguration ceremony for the ADB/AFD loan project was held on Friday in Yuanjiang, Hunan province, marking the first flagship investment under ADB’s Regional Flyway Initiative — a program dedicated to conserving wetlands across the Asia-Pacific for both people and wildlife.
"This substantial investment underscores our collective commitment to delivering significant regional and global public goods, including biodiversity conservation and resilience," said Scott Morris, ADB vice-president.
Yang Zhiyong, secretary of the Communist Party of China Yuanjiang Municipal Committee, said the city will establish a full-chain supervision system for project funds, set up a dedicated account for ecological restoration, ensure targeted fund allocation, and implement a multi-party management mechanism to ensure the funds are used safely and efficiently.
Yin Mingyue contributed to this story.
