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Bank of China to lend $44b in Sichuan for rebuilding
(Xinhua)
Updated: 2009-03-04 21:26 BEIJING -- Bank of China (BOC) signed an agreement here Wednesday with Sichuan Province to provide areas hit by the May 12 quake with at least 300 billion yuan ($43.9 billion) in loans for reconstruction over the next five years.
The Sichuan government has estimated post-quake rebuilding will cost more than 1.6 trillion yuan. The Beijing-based bank, one of the country's top four lenders, said it would also offer financing support for small and medium-sized companies in Sichuan. The 8.0-magnitude quake, centered in Sichuan, left more than 80,000 people dead or missing and millions homeless. |