The country's first batch of special loans for the renovation of urban villages in megacities landed in Guangzhou. 14 urban village reconstruction projects including Tancun in Luochongwei area of Baiyun District and Dali village in Minkeyuan area were approved by the National Development Bank and Agricultural Development Bank of China.
The funds will be used for preliminary work of the project, expropriation compensation and resettlement, construction of resettlement housing, and construction of supporting infrastructure in the resettlement housing community.