ADB increases financing to SMEs in China

0 Comment(s)Print E-mail Xinhua, December 7, 2018
Adjust font size:

The Asian Development Bank (ADB) signed a 60 million U.S. dollar loan agreement to increase financing to small- and medium-sized enterprises (SMEs) in China.

The agreement was signed between the ADB and Zhujiang Financial Leasing Company Limited to assist SMEs in central and western regions of China.

"SMEs are important drivers of inclusive growth of China's economy as they provide so many jobs, but a lack of fiance is an impediment particularly in less developed regions," said Christopher Thieme, deputy director general of the Private Sector Operations Department in ADB.

The ADB will also help the company to improve its safeguards and support the development of China's lease finance industry.

"This loan is just the first step in the partnership between ADB and our company, but that will have a significant positive impact on China's SME development in central and western regions," said Ping Yang, CEO of Zhujiang Financial Leasing Company.

The ADB was founded in 1996 in the Philippines' capital, Manila. It currently has 67 members. In 2017, ADB operations totaled 32.2 billion U.S. dollars, including 11.9 billion in co-financing.

Follow on Twitter and Facebook to join the conversation.
ChinaNews App Download
Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from