"Xiangxi Rural Vitalization and Special Industry Development" LFF Mission Was Held Successfully

In order to better support and implement the Action Plan for Rural Revitalization in theYangtze River Economic Belt of China, the Asian Development Bank (hereinafter referred to as "ADB") approved the loan project "Hunan Xiangxi Rural Vitalization and Special Industry Development Project”(hereinafter referred to as "the project") in September 2019. This project aimed at assisting Xiangxi to promote the implementation of rural revitalization and featured industry development from the following aspects: 1) Rural waste and sanitation management facilities and services improved; 2) Local featured agricultural and forestry products developed; and 3) Values added to agricultural and forestry products, by 1) playing ademonstration role for rural revitalization; 2) eliminating the adverse effects of pollution to improve local public facilities; 3) reducing the risk of epidemics in the future; and 4) extensively promoting rural economic development and economic recovery after the COVID-19 pandemic, so as to make achievements in improving the rural living environment and increasing the productivity of local agriculture and forestry in Xiangxi Prefecture. The total investment of the project is about USD 400 million, among which ADB loan is USD 200 million.

As a poverty-stricken area in central and western China, Xiangxi Prefecture has strong development aspirations, large demands for funds and broad market prospects. In recent years, Xiangxi Prefecture has been actively seeking and expecting to invest in poverty alleviation, green ecological development and rural revitalization. In order to support the project, ADB hired NAREE International Consulting Co., Ltd. (hereinafter referred to as "NAREE") to organizea technical assistance team (hereinafter referred to as "TA team") to carry out the project consulting services.

Since September, 2019, NAREE TA team has conducted several site visits in Xiangxi Prefecture to ensure that the project was steadily promoting under the requirements of ADB in terms of improvement of living environment, development of forestry products, and integration of agriculture and tourism. NAREE also organized relevant staff training in procurement and safeguard. The TA team has played a great role in optimizing the project design, docking with advanced technology concepts, and improving the management level of the project management office, etc., which has laid a solid foundation for the successful implementation of domestic procedures, ADB procedures and project loan negotiations in the future. NAREE has completed consulting services efficiently and excellently as ever during the COVID-19 pandemic, which was praised by ADB, and accumulated valuable experience for subsequent project consulting services.

From July 1 to 6, 2020, the LFF Mission of "Hunan Xiangxi Rural Vitalization and Special Industry Development Project" was successfully held in Xiangxi, Hunan Province.

The director of the Foreign Loan Office of the Hunan Provincial Department of Finance, the chief clerk of the Foreign Investment Office of the Hunan Provincial Development and Reform Commission, the chief clerk of the Foreign Loan Office of the Hunan Provincial Department of Finance, the deputy secretary of Xiangxi Prefecture Committee and the governor of Prefecture Government, and other officers attended the meeting and delivered speeches. 8 executive deputy county mayors of counties and cities, 18 heads of relevant departments of prefecture, the heads of the ADB project management office and construction units in the counties and cities, and the NAREE TA team members from all over the world participated in the meeting online. Dr. HEQibin, the leader of the TA team and the international agribusiness specialist, reported the research results of the preliminary investigation of the projecton behalf of the TA team. Mr. Yoshiaki Kobayashi, ADB water resource specialist, led the ADB Mission to give suggestions on project design, such as project content, project management manual, design and monitoring framework, and project implementation feasibility.

Loan Fact-Finding Mission

So far, the TA project of Hunan Xiangxi Rural Vitalization and Special Industry Development has been successfully completed, and the loan for this project is expected to become into effect in March 2021.