ZCZC
BCN-17
CHINA-BANK-POVERTY-RELIEF-LOAN
China’s rural policy bank tops poverty-relief loan issuance
BEIJING, June 24, 2018 (BSS/Xinhua) – China’s rural policy bank saw its
outstanding loans for poverty reduction reach 1.3 trillion yuan (about 200
billion U.S. dollars) in May.
The figure made the Agricultural Development Bank of China the top lender
to such efforts, bank vice president Lin Li told reporters at a press
conference.
Since 2015, the policy bank has given out 1.52 trillion yuan of loans for
China’s poverty relief programs, Lin said.
Loans to areas affected by deep poverty grew 3.8 times faster than the
lender’s average loan growth in 2017.
The lender has required its provincial branches in 22 regions to take
responsibility for poverty reduction work.
There were around 30 million Chinese still living below the national
poverty line at the end of last year, according to the National Bureau of
Statistics.
BSS/XINHUA/HR/1440