September 4, 2018 / 11:03 AM / 8 months ago

China signs pact with ADB for $6-billion rural development package

A man's shadow casts over the logos of the Asian Development Bank (ADB)'s annual general meeting at the site in Yokohama, south of Tokyo, Japan May 4, 2017. REUTERS/Issei Kato

BEIJING (Reuters) - China’s state planner and finance ministry signed a memorandum of understanding with the Asian Development Bank (ADB) for a $6-billion package to modernize farming and improve the rural environment, the government said on Tuesday.

The funds from the ADB and its partners will be provided between 2018 and 2022, the National Development and Reform Commission (NDRC) said in a statement.

Reporting by Beijing Monitoring Desk; Editing by Clarence Fernandez

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