Agricultural Bank of China increases credit support to ensure farm produce supply
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E-mail Xinhua, February 19, 2020
The Agricultural Bank of China (ABC), one of the country's biggest lenders, has rolled out a slew of special policies to facilitate production resumption in the agricultural sector and ensure farm produce supply amid the ongoing epidemic.
Loan clients whose business involves the production, processing, circulation and sales of farm produce like grain, vegetables, hogs, eggs and aquatic products will be put into a list and given priority, the ABC said.
The bank will delegate the power of and relax limits on credit approval as well as optimize modes of mortgages and pledges for key clients in the agricultural industry and producers of anti-virus materials.
To ensure that the credit demand of these two types of clients is fully met, special teams will be established in all bank branches to fast-track their loan applications.
The bank will also grant a one-month grace period to loan takers like small and micro enterprises and farmers whose businesses have been hit hard by the epidemic.
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