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China's policy bank has provided 25.2b yuan in elderly care loans since 2021

Xinhua | Updated: 2022-05-23 18:38

A clerk counts cash at a bank outlet in Hai'an county, Jiangsu province. [Photo/China Daily]

BEIJING - China Development Bank, one of the country's policy banks, has extended 25.2 billion yuan ($3.77 billion) in loans for elderly care services since 2021, the start of the country's 14th Five-Year Plan period (2021-25).

The loans can be put toward the construction of over 100,000 inclusive nursing care beds for seniors, said the bank.

The bank said it will offer favorable loans for eligible institutional providers of inclusive elderly care so as to lower their financing costs.

China Development Bank is a pilot financial institution offering special reloans for inclusive elderly care.

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