Chinese policy bank steps up financial support for farmland cultivation & urban infrastructure
The China Development Bank (CDB), one of the country's policy banks, has stepped up loan support for the cultivation of high-standard farmland.
By the middle of September, the lender had issued a total of 24.5 billion yuan (about 3.42 billion U.S. dollars) in loans to support farmland cultivation, which is expected to help foster 4.25 million mu (about 283,333 hectares) of high-standard farmland.
The CDB has issued 5.3 billion yuan of loans since the beginning of 2023 to support high-standard farmland cultivation and farmland infrastructure upgrading projects in Jilin, Jiangsu, Sichuan, Guangxi and Ningxia.
The bank said it will continue to leverage the role of development finance to support agricultural infrastructure construction and give stronger financial support for high-standard farmland cultivation.
China Development Bank issued loans totaling more than 340 billion yuan (about 47.36 billion U.S. dollars) for the urban infrastructure sector in the first nine months of this year, providing strong support for the construction, renovation and intelligent upgrading of urban municipal and public facilities.
The CDB has integrated infrastructure, industrial facilities and supporting business service facilities to provide high-quality and efficient financial services for urban infrastructure construction.
It will step up support for urban infrastructure construction further in a market-based manner to help build livable, resilient and smart cities.
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