China to invest US$140 billion by 2020 to relocate poor from rural regions
Time：2016-11-04
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The mass relocation is part of a strategy to lift 10 million people out of poverty by 2020, with two million estimated to be moved this year. The funds will be used mainly to construct homes, support facilities and basic public infrastructure, with the rest going to the restoration of vacated lands, state planner National Development and Reform Commission (NDRC) said in a document.
The investment will be financed mainly by China`s policy banks who will provide CNY341.3 billion in long-term loans and CNY50 billion yuan in construction bonds, as well as by local governments, who will provide CNY285.8 billion.