China Development Bank ups loan support for agriculture

BEIJING -- China Development Bank (CDB), one of the country's policy banks, boosted its financial support for the agriculture sector last year.

CDB's outstanding agriculture-related loans newly added in 2022 amounted to 250 billion yuan ($36.26 billion), according to the bank.

The loans have provided strong support for ensuring food security, agricultural and rural infrastructure construction, agricultural modernization, improving the rural living environment, and consolidating and expanding achievements in poverty alleviation, CDB said.

It added that the bank also issued 8 billion yuan in special financial bonds for rural revitalization last year.

In 2023, CDB will continue to increase financial support for agricultural and rural infrastructure, and for promoting rural revitalization, the bank said.