World Bank gives China $710m loan

The World Bank has said it is giving China a $710m (£487m) loan to help rebuild areas hit by last year's Wenchuan earthquake.

The money will finance reconstruction projects in the infrastructure, health and education sectors in the two most-affected provinces Sichuan and Gansu.

The earthquake, which hit on 12 May 2008, was China's worst for 30 years, measuring 7.9 on the Richter scale.

Almost 90,000 people were killed and five million were left homeless.

"This project will assist many communities affected by the devastating earthquake to rebuild their lives by restoring essential services," said project manager Mara Warwick.

Last year, China's leaders allocated 70bn yuan ($10bn; £7bn) to a reconstruction fund for the earthquake.

It is estimated the disaster cost China $123bn in direct economic losses.

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