Caixin OnlineFinance & EconomicsTop Stories Finance Problems Found in Foreign-Funded Projects, Auditor Says
06.18.2012 19:03

Problems Found in Foreign-Funded Projects, Auditor Says

National Audit Office uncovers a host of issues with construction works that used money from sources such as the Asian Development Bank
By staff reporter Xing Yun

(Beijing) – Problems such as the misappropriation of funds have been found in some of the construction projects around the country that have been partly backed by foreign loans or donations.

On June 18 the nation's top auditor, the National Audit Office, released the findings of its examination of the 2010 operations of 99 projects that had foreign backing of 34.5 billion yuan out of a total 424.6 billion yuan investment. The audited projects were in a range of sectors, including agricultural, energy, transportation, education, public health and urban construction.

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