China Development Bank ups financial support for rural revitalization in 2021
Source: Xinhua | 2022-03-28
The China Development Bank has boosted its loan support in 2021 to advance rural revitalization on all fronts.
Last year, the bank has offered 594.8 billion yuan (93.5 billion U.S. dollars) in loans, promoting key areas including advancing the modernization of the agricultural sector and providing follow-up support for those who have relocated from inhospitable areas, it said.
Nearly half of the loans have been used to support areas that have been lifted out of poverty to aid them in consolidating poverty alleviation achievements.
Of the total, 146.8 billion yuan was lent to support the infrastructure construction in rural areas and upgrade the supply of water, electricity, roads, gas and the internet.
The bank has set up special loans for spring plowing for three consecutive years, in a bid to underpin the production and circulation of agricultural means of production and guarantee the supply of agricultural products.
Busiunion
Busiunion