China Development Bank (CDB) signed an agreement with Qinghai Province to provide at least 120 billion yuan (US$17.65 billion) in loans to the province before 2015.

The funds will be used to support infrastructure projects such as highways, airports, railroads and power facilities, the bank said Monday.

Loans will also go to industrial projects that draw on the province's local advantages, such as coal and salt lake, and programs involving living standards such as settlement projects and environmental protection, CDB said.

As of December, CDB had lent 60.6 billion yuan to Qinghai Province, of which 32.4 billion yuan was still outstanding.

(Xinhua News Agency January 20, 2009)