CDB to lend no less than 200 bln yuan for poverty alleviation

0 Comment(s)Print E-mail Xinhua, March 16, 2020
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The China Development Bank (CDB), one of the country's major policy banks, will provide no less than 200 billion yuan (about $28.57 billion) of loans to less developed areas this year for poverty alleviation.

As of March 11, the CDB had issued 58.8 billion yuan in loans to poor areas to support leading poverty alleviation enterprises in poor areas to resume work, the construction of poverty alleviation projects and spring ploughing, it said.

The CDB will launch a series of financial poverty alleviation tasks this year, including projects promoting drinking water safety and relocating people from inhospitable areas. It will also explore market-oriented financing to support infrastructure and public service in less developed areas.

Founded in 1994, the CDB is designed to provide finance to major national projects and development strategies. It has stepped up support for the country's battle against poverty, which is one of the "three tough battles" that the country must win to build a moderately prosperous society in all respects by the end of 2020.

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