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China EximBank ups loan support for small, micro-businesses

Abstract : The Export-Import Bank of China (China EximBank) has increased loan support for small and micro-businesses, with outstanding funds topping 100 billion yuan (about 15.4 billion U.S. dollars) under a targeted program by the end of March.

BEIJING, April 24 (Xinhua) — The Export-Import Bank of China (China EximBank) has increased loan support for small and micro-businesses, with outstanding funds topping 100 billion yuan (about 15.4 billion U.S. dollars) under a targeted program by the end of March.

Under the loan model, the policy bank provided low-cost funds to medium and small banks, which then grant the loans to small and micro-businesses to reduce their financing cost.

China Eximbank is a state-funded and state-owned policy bank dedicated to supporting China’s foreign trade, investment, and international economic cooperation.

China has rolled out a slew of measures to reduce financing costs of small and micro-companies. Outstanding inclusive finance loans to small businesses climbed by 30.3 percent by the end of 2020 from the previous year to 15.1 trillion yuan, central bank data showed. Enditem

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Source: China EximBank ups loan support for small, micro-businesses

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