According to a recent announcement by the Ministry of Finance of the Xinhua News Agency, in 2020, the Ministry of Finance, as the first debtor, will repay all due debts to the World Bank and the Asian Development Bank on time, and will receive a total of US$7.0745 million in interest and fee reductions from the World Bank and the Asian Development Bank, which is equivalent to approximately RMB. 46,160,400 yuan.
Among them, the interest and expenses of the World Bank loan were reduced by USD 5,878,100, and the interest and expenses of the ADB loan were reduced by USD 1,196,400.
According to the announcement of the Ministry of Finance, in order to encourage lower-level debtor units to repay the Ministry of Finance in a timely manner, the Ministry of Finance will give lower-level debtor units the World Bank and ADB loan interest reductions and exemptions based on the repayment of World Bank and ADB loan debts by lower-level debtors to the Ministry of Finance. A total of 6.4150 million US dollars, equivalent to about 41,857,200 yuan, of which, the World Bank loan interest fee reduction of US$5.2210 million, ADB loan interest fee reduction of US$1,194,400.
Source: China Trade News
