China Development Bank boosts support for farmland work
(MENAFN) The China Development bank (CDB), a prominent policy bank within the country, has significantly bolstered its financial assistance for farmland development and protection, as well as initiatives aimed at enhancing land productivity nationwide in the current year.
During the first quarter of this year, the bank allocated 2.59 billion yuan (equivalent to approximately 365 million U.S. dollars) in special loans specifically designated for farmland development. This amount marks a notable increase, more than doubling the sum issued during the corresponding period of the previous year. This substantial augmentation underscores the bank's heightened commitment to supporting agricultural development and land productivity enhancement efforts across China.
In alignment with its broader objectives of ensuring grain security and maintaining stable supplies of agricultural products, the CDB has been extending medium- and long-term financial assistance for the development and upgrading of high-standard farmland across China's 13 major grain-producing regions in recent years. This strategic focus on key agricultural areas underscores the bank's proactive role in supporting initiatives that contribute to the nation's food security objectives.
Looking ahead, the CDB has outlined plans to further bolster inclusive financial support in critical areas such as rural infrastructure development and scientific and technological innovation within the agricultural sector. By strengthening financial backing in these key domains, the bank aims to facilitate sustainable agricultural practices, enhance productivity, and promote rural prosperity. This strategic approach reflects the bank's ongoing commitment to fostering agricultural growth and ensuring the long-term viability and resilience of China's agricultural sector.
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