GUIYANG, Dec. 21 (Xinhua) -- Southwest China's Guizhou Province has set up a 20 billion yuan (3 billion U.S. dollars) fund to help provide clean tap water for both rural and urban residents.

The fund is part of a massive 300 billion yuan poverty relief fund in the poverty-stricken mountainous province.

Guizhou Water Investment Water Affairs Group Thursday said local authorities would contribute 15 percent of the fund and the Industrial Bank and Industrial and Commercial Bank of China will provide the rest.

"The company will spend the money building new or expanding existing tap water plants and safe drinking water projects in the urban and rural areas," said Qin Liqi, president of Guizhou Water Investment Water Affairs Group.