The program will help some of the 14,400 people currently living in subdivided units who have been on the public housing waiting list for more than three years, and the rent will be capped at one quarter of the tenant's income, according to the council.
The profit was in sharp contrast to a year ago, when GM posted a huge loss due to the sale of its failing Opel-Vauxhall business in Europe.
The program aims to help the talented youth realize music dreams.
The project "will be the starting point for AIIB to extend its assistance to other countries in Asia moving towards an 'Energy for all' initiative," said D.J. Pandian, vice president and chief investment officer of AIIB.
The projects included equipment maintenance facilities, training areas and schools for military families. Some of the projects are planned within US soil while some are to be located in other countries.
The prize has been awarded to people or organizations such as Yuan Longping, China's "father of hybrid rice"; Xie Zhenhua, China's special representative on climate change affairs; Hans-Josef Fell, a founding figure of the global renewable energy movement; the World Meteorological Organization and the Pratham Education Foundation.
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The product, called ejiao, is a gelatin used in traditional Chinese medicine and is regarded as having positive effects, including helping rejuvenate the skin and relieve fatigue.
The production and living environments of the 1.31 million people who were relocated to make way for the Three Gorges project have been greatly improved, and infrastructure and public service facilities in the reservoir area have developed rapidly, it said.
The president's comment came days after he claimed that the United States could start distributing a coronavirus vaccine as early as October.
The project has a total contractual value of .5 billion and has a planned installed capacity of 2,172 megawatts. The project will be completed within 80 months, and during the peak construction period nearly 10,000 jobs are expected to be provided for the locals.