ADB provides $200m for Xiangtan smart city project
The Asian Development Bank has approved $200 million in loans to support China's Xiangtan municipal governmen as it shifts to low-carbon, resilient, and smart city development.
The Xiangtan Low-Carbon Transformation Sector Development Program will help the municipal government transform public transport through 60km of dedicated bus lanes with transit signal priority, real-time bus information, transforming street layout for better walking and cycling access, redesigning the access at two railway stations for easy mode-shift, and improving road safety at school zones.
The municipal government will construct a new hospital with a green building certificate, including use of passive building design and integrating advanced clean energy technologies, water-saving features, and extensive flood resilient measures using ecosystem-based solutions. An unused government building will also be retrofitted to house the Asia Low-Carbon Training Center, showcasing green and low-carbon building techniques and features.
The physical investment will be augmented by smart city platforms, including intelligent transport, industrial energy and utility management, building energy management, early flood warning, and environmental monitoring assessment systems using information and communication technology and the internet of things.
ADB is providing two loans: $150 million for the project activities and a $50 million policy-based loan to be paid in two tranches contingent on completion of key reforms to drive low-carbon innovations and system transformation. The program’s total cost is at $395.88 million, of which $195.88 million is provided by the Chinese government. The estimated completion date for activities under the project loan is the end of 2025.
