China bank loans 120 mln yuan to drought-hit province

BEIJING, March 24 (Xinhua) -- The China Development Bank (CDB) said Wednesday it had allocated 120 million yuan (17.57 million U.S. dollars) for emergency loans to support the fight against drought in Yunnan Province.

Yunnan was among the provinces in southwest China ravaged by the most serious drought in sixty years.

The drought had resulted in a direct economic loss of 23.66 billion yuan and left more than 18 million locals short of drinking water as of Tuesday, according to latest figures from the Ministry of Civil Affairs.