GZ Gets Record Most 81.3-Bln-Yuan Financing for Urban Redevelopment

 
The traditional Cantonese Qilou buildings on Nanhua Xi Street has been included in the old town renovations which are financed by the fund. (Guangzhou Daily)

昨日，广州市城市建设投资集团与中国工商银行等16家金融机构组成的银团签订城建项目贷款合同，总金额达713亿元。

The Guangzhou Urban Construction Investment Group (GUCIG) was financed 71.3 billion Yuan (10.5 billion USD) by a banking group of 16 lenders for urban redevelopment in Guangzhou, at a contract signing ceremony yesterday (March 2).

另外，工商银行还批准给予城投集团100亿元的项目临时周转贷款。

The Industrial and Commercial Bank of China (ICBC) also loaned GUCIG 10 billion Yuan (1.5 billion USD) for projects' capital turnover.

这是广州有史以来参与银行最多、融资额最大的银团贷款项目。

The loan package is the most ever financing involving the most ever banks in Guangzhou.

资金主要用于道路交通、中心区雨污分流和旧社区的改造等城市基础设施项目的建设。

The fund will be mainly used for infrastructure buildup, including road construction, dirt distributary in rain in city center, and old town renovations.

常务副市长苏泽群在会上强调：2010年，广州市不仅举办亚运会，还要实施城市"大变"计划，一下子拿了800多亿元，得盯好怎么花在刀刃上。

Executive Vice Mayor of Guangzhou Su Zequn said at the ceremony that Guangzhou will not only host the 16th Asian Games, but also endeavor to substantially improve the city environment in 2010; such a big amount should be used carefully and efficiently.

广州市城投集团成立于2008年，拟通过市场化运作，为城市的持续发展提供支持。

GUCIG was set up in 2008 to source supports for sustainable urban development through marketing operations.

Source: Lifeofguangzhou.com

Editor: Chen Minjie