The World Bank loan ecological afforestation project in Shandong province has afforested 38,000 hectares of land over the past two years, accounting for 57.6 percent of the plan, as confirmed by World Bank experts at a meeting regarding the project.
By now, the project has received a total investment of US$ 52.3 million, among which US$ 31.2 million in the form of a World Bank loan. The Shandong government provided supporting funds worth US$ 2.56 million and local funds worth US$16.8 million.
The afforestation project officially took off on July 28, 2010 and planned to invest US$ 119.8 million, among which US$ 60 million the form of a World Bank loan.
66,000 hectares of land are planned to be afforested, across 28 counties of nine cities, including Dongying, Jining and Laiwu.
The project is the first World Bank loan ecological afforestation project in the province and also the largest forestry project involving foreign investment, independently assumed by the province.