China's policy bank issues loans for spring plowing
Source: Xinhua | 2021-03-26
The Agricultural Development Bank of China (ADBC), a rural policy bank, has issued loans worth 36.6 billion yuan (about 5.6 billion U.S. dollars) for the upcoming spring plowing.
The ADBC will grant a further 12 billion yuan in loans for plowing and preparations, to help ensure grain security and the supply of farm produce, said Qian Wenhui, ADBC chairman, at a press conference Thursday.
Looking ahead, Qian said the policy bank will focus on the country's targets for cultivating high-standard farmland with stronger loan support.
From 2015 to 2020, the loans issued by the ADBC for grain production totaled 282.4 billion yuan.
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