BEIJING: Development Bank of China, one of the country’s main policy lenders, plans to lend 3 trillion yuan (US$458.3 billion) up to 2020 as part of government efforts to reduce poverty, state media reported.
The bank is to lend about 1.1 trillion yuan to support construction of infrastructure in rural areas, according to the People’s Daily. About 1 trillion yuan in loans is to be made available for grain and crop production industries, the paper reported yesterday. In October last year, the cabinet said China aims to lift all its 70 million poor above the poverty line by 2020.
