The World Bank has approved a loan of US$100m to support a six-year project that it is hoped will improve the standard of living for dairy farmers in Heilongjiang province, northeastern China, AFX Asia has reported.
The area’s dairy farmers face low productivity and frequent price fluctuations due to an inconsistent quality of milk. Through household and dairy park-based production programmes, the Heilongjiang Dairy Project aims to improve the quality and efficiency of milk produced in the province.
The loan is repayable within 20-years, with a five-year grace period.
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