Luxembourg, 07/01/2002 (Agence Europe) - The European Investment Bank is providing a loan of USD 50 million (around EUR 57 million) for improving the Chinese road network. An EIB press release indicated that that the loan will help to towards creating greater regional integration and development. It will be used for the construction of a toll expressway and ancillary roads between Nanning, the capital of Guangxi Zhuang Autonomous Region (population of approximately 48 million and the fifth poorest region in China), and the Vietnamese border. The work is due to be completed by the middle of 2005 and should create a large number of temporary jobs, as well as around 300 new permanent jobs in the toll stations and road maintenance and administration services. The EIB 20-year loan includes a 5-year grace period and benefits from the (EU) budgetary guarantee.