The planned Giant Panda National Park would be two times the size of Yellowstone National Park in the United States.
The Bank of China has promised 10 billion yuan, or $1.5 billion, to set up the protective area. It will be in the southwestern province of Sichuan, China’s forest ministry said Thursday.
The Sichuan office of the central bank signed an agreement with the provincial government to pay for the park’s construction. The work is to be completed by 2023.
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Zhang Weichao is a Sichuan official involved in plans for the park. Zhang told the China Daily newspaper that the agreement will reduce poverty among the 170,000 people living within the park’s proposed territory.
China’s Communist Party Central Committee and the State Council first suggested the idea for the park in January 2017, the newspaper reported.
An estimated 1,864 giant pandas live in the wild, where they are threatened mostly by loss of natural habitat. Another 300 live in captivity.
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