ICBC to finance over 300 bln yuan for key sectors' development in Hubei

Source: Xinhua | 2020-05-14

The Industrial and Commercial Bank of China (ICBC), the country's biggest commercial lender, promised to offer no less than 300 billion yuan (about 42.33 billion U.S. dollars) of financing support for the development of key sectors in central China's Hubei Province in the next two years.

The aid package will be used in various financing services, including loans, bonds and consulting, as an attempt to optimize the system for public health and disease prevention in Hubei and ramp up the resumption of work by companies, according to the cooperation agreement inked between the ICBC and the provincial government of Hubei Wednesday.

By the end of April, the bank financed 33.1 billion yuan for key enterprises in Hubei and issued loans worth 544.6 billion yuan for 25,800 companies, to help them tide over difficulties with a precise approach.