China bank funds giant panda park

BEIJING — The Bank of China has pledged at least $1.5 billion to create a giant panda conservation park in southwestern Sichuan province, the forestry ministry said Thursday.

The Sichuan branch of the central bank signed an agreement with the provincial government to finance the Giant Panda National Park’s construction by 2023. The park aims to bolster the local economy while providing the endangered animals with an unbroken range. The ministry said the park will measure 5 million acres, making it more than two times the size of Yellowstone National Park.

Zhang Weichao, a Sichuan official involved in the park planning, told the state-run China Daily that the agreement will help alleviate poverty among the 170,000 people living within the project’s proposed territory.

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