Two projects to be developed in Baotou in North China's Inner Mongolia autonomous region have been confirmed as recipients of loans totaling 77 million euros ($90.28 million) from the Asian Development Bank (AOB), the city's finance bureau has announced.

The projects - the Mandula Port Subproject and the Mandula Port Isolation Field and Integrated Development of Mutton Sheep - are two of the Inner Mongolia Regional Sustainable Border Development Investment Projects, and will be receiving a loan of 40.71 million euros and 36.76 million euros respectively (calculated at the exchange rate at the time of negotiation).

The signed loan agreement has a term of 25 years (including a six-year grace period).

The AOB is the only international financial organization that supports regional cooperation projects, and plays a role in facilitating China’s Belt and Road Initiative.