IFC funding for Chinese water facilities
Three water plants are to be built in China as part of a project to further develop the country's water sector and promote water efficiency there. China Everbright International, a leading investor and operator in environmentally friendly businesses, is receiving a loan of more than £45M (US$70M) for the plants from World Bank Group member IFC.
China is facing a severe water shortage caused by its fast-growing economy, large population, and rapid urbanisation. The Chinese government has adopted a multifaceted approach that combines economic and environmental regulations at the national and provincial levels to reduce water pollution and improve efficiency over the years.
These measures have resulted in improved wastewater treatment and led to the emergence of several internationally competitive Chinese water companies that have started expanding overseas.
Everbright is to use IFC’s financing to expand environmental water business by building a wastewater treatment plant, a pioneering wastewater reuse plant and a groundwater plant. Upon completion, the first plant can treat 150,000m3 of wastewater every day, while the second plant can recycle 20,000m3 of water a day.
Chen Xiaoping, international chief executive officer, said: “IFC’s financing and global network in the water industry will help us better integrate our businesses across the supply chain. With IFC’s help, we will adopt global best practices that are important for making our company more international.”
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