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China’s policy bank issues loans for spring plowing

Abstract : 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.

BEIJING, March 25 (Xinhua) — 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. Enditem

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Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal. China’s silk road economic belt and the 21st century maritime silk road website, include BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: China’s policy bank issues loans for spring plowing

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