ADB to provide $1 mln grant to support China's reforms
GOV.cn Tuesday, June 19, 2007

The Asian Development Bank (ADB) will provide a grant of nearly one million U.S. dollars to help China advance reforms and ensure effective implementation of government policies.

The ADB said on Tuesday that it will provide a 965,000 dollar technical assistance grant to support key policy reforms in China, help develop mechanisms to implement existing policies and promote objectives contained in the government's Eleventh Five-Year Plan for Economic and Social Development for 2006-2010.

"The People's Republic of China has embarked on an important new development paradigm of balanced and people-centered development," said Christopher Spohr, an ADB Social Sector Economist based in Beijing.

"Success will require innovative approaches in areas ranging from fiscal policy to social development and environmental protection. Resolving challenges surrounding poverty will also be fundamental to achieving the government's goal of creating a harmonious society," said Spohr.

According to the ADB, the grant provides a flexible facility for timely support on key policy issues. It will involve cooperation with the Ministry of Finance, State Council Leading Group Office of Poverty Alleviation and Development, and other government agencies, research institutions, non-government organizations, and other partners.

Initiatives identified for support include work on water resource conservation as well as support for children whose parents have migrated for employment.

The government of the United Kingdom is financing 65,000 dollars of the technical assistance through ADB's Poverty Reduction Coordination Fund, said the ADB.

Editor: Jiang Yuxia
Source: Xinhua