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15 July 2015

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CDB Granted 1.336-trl-yuan Loans to Hunan in 2015

2016-03-01 Download Print

China Development Bank (CDB) Hunan Branch granted 1.336 trillion yuan in 2015 in financial loans to support Hunan’s development, a year on year growth of 67.8%, according to the bank on Feb. 28, 2016. It hit a record high of one trillion yuan for the first time, with the focus on such projects as “two housing and shantytowns” plan (urban-rural affordable housing projects such as public rental housing construction and renovation of rural dilapidated housing, and urban shantytowns and industrial and mining shantytowns), poverty alleviation and development, road and railway, water supply and drainage, cultural tourism, and industrial upgrading.

CDB Hunan Branch has finished approval of 79.5 billion yuan lending for shanty town renovation projects, with 25.1 billion yuan allocated. It assisted in establishment of provincial-level financial company on poverty alleviation, and will extend 14.1 billion yuan loans on relocating the poor, part of the targeted poverty alleviation task. It also offered 401 specially funded projects including infrastructure construction and agricultural industry, with 23.9 billion funds loaned, occupying over 60% of the whole provincial share.

During the “12th Five-Year Plan” period (2010-2015), the Bank has fulfilled the strategic cooperative agreement with Hunan Province, at a completion rate of 140%. In specific, it has granted a total of 3.509 trillion yuan loans to the province, 1.008 trillion above quota.

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Translator: Yu Jiangjiang

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