Agricultural Bank of China ups loans for water conservancy construction
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E-mail Xinhua, September 22, 2023
BEIJING, Sept. 22 (Xinhua) -- The Agricultural Bank of China, one of the country's four big state-owned lenders, said it has enhanced loan issuance to support nationwide farmland water conservancy projects.
By the end of August, the bank's outstanding loans for farmland water conservancy construction surpassed 100 billion yuan (about 13.94 billion U.S. dollars), the bank said.
The loans go towards constructing and upgrading farmland water conservancy facilities.
Since the beginning of this year, the bank has also issued 63.9 billion yuan of loans to 16 provincial-level regions hit hard by floods, including Beijing, Hebei, and Fujian.
It will fully support the post-disaster reconstruction of water conservancy facilities and strengthen financial support for the formation of flood control and disaster reduction systems in river basins. Enditem
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