The China Development Bank, one of the country’s policy banks, has issued 19 billion yuan (about 2.65 billion U.S. dollars) of special financial bonds to support agricultural and rural infrastructure construction.

The funds raised will mainly be used for rural infrastructure projects in fields such as high-standard farmland and water supply in an effort to improve grain production capacity, safeguard food security, and promote agricultural and rural modernization, according to the bank.

The issuance will guide social funds to rural infrastructure through market-based financing, and help advance rural revitalization across the board and build up China’s strength in agriculture.—Xinhua