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Chinese policy bank ups loan support for farmland cultivation

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The China Development Bank (CDB), one of the country’s policy banks, has stepped up loan support for the cultivation of high-standard farmland.

By the middle of September, the lender had issued a total of 24.5 billion yuan (about 3.42 billion U.S. dollars) in loans to support farmland cultivation, which is expected to help foster 4.25 million mu (about 283,333 hectares) of high-standard farmland. The CDB has issued 5.3 billion yuan of loans since the beginning of 2023 to support high-standard farmland cultivation and farmland infrastructure upgrading projects in Jilin, Jiangsu, Sichuan, Guangxi and Ningxia.—Xinhua

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