Loans from international financial institutions (IFI loans) to China were a very important beginning to China’s opening to the outside world. This book represents the first comprehensive study done in China to evaluate the overall performance of IFI assistance to China from 1981 to 2002. It analyzes the efficiency of international assistance in contributing to the Chinese economy by investigating the actual implementation of the projects and their economic, financial, social, ecological, and educational impacts. It draws on successful cooperations between the Chinese government and IFIs, analyzes major lessons in project management, and provides recommendations on how to further develop international cooperations that are mutually beneficial. Angang Hu is the director of the Center for China Studies and a professor at the School of Public Policy and Management, Tsinghua University. His research work is noticed by Chinese leadership, and often influences government policies. Abstract On April 17 and May 15, 1980, the International Monetary Fund (IMF) and the Board of Executive Directors of the World Bank adopted a resolution, deciding to accept the People’s Republic of China as representative of “China” and restored the legal seat of the People’s Republic of China in IMF and the World Bank. World Bank is the largest global development aid agency and also a foreign organization that has lent the largest amount of money to China. From 1981, when the World Bank provided the first loan for funding China’s university development, to the end of 2000, it provided China with a total of nearly US$34.2 billion loans for 259 projects. Of these projects, 157 have been completed, 102 are still in progress and 15 others are in the preparation stage. China has become the No. 1 borrower from the World Bank in the world. The Asian Development Bank (ADB) is a regional development aid agency in Asia. China became a full member in 1986. The amount of loans ADB provided for China is only next to that by the World Bank. By the end of 2000, it had provided China with a total of US$10.181 billion loans for 80 projects. Before 1990s, the total ADB loans to China were US$460 million.Most of the ADB loan projects were performed after 1990s.
