WASHINGTON, June 24, 2008- The following project was approved today by the World Bank’s Board of Executive Directors:
IBRD Loan: US$300 million
TERMS: Maturity =20 Years; Grace Period = 5 Years
Program Description: This project aims to help construct a new 355 km dedicated high-speed passenger rail line between Shijiazhuang in Hebei Province and Zhengzhou in Henan Province. This is part of the new 2,100 km Beijing-Guangzhou dedicated high-speed passenger line which, when completed in 2010, is expected to provide a major boost in rail transport capacity while also reducing the travel time for passengers from the present 24 hours to less than 10 hours. This is the first high-speed passenger railway supported by the World Bank since the new Tokaido line (Tokyo to Osaka) was completed in 1964, the first link of the Shinkansen bullet train in Japan.
For more information, please call Mohamad Al-Arief at (202) 458-5964 or email malarief@worldbank.org
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