China Development Bank, one of the country’s policy banks has decided to establish a special loan programme to upgrade agricultural infrastructure and support farmland development in the country.
The bank Authority said this on Monday that by 2030, the special programme would provide financing support for over 40 million mu, about 2.67 million hectares of land.
“The move aims to ensure the supply of important farm produce and accelerating agricultural modernisation.
“Funds from the program will be used to develop new high-standard farmlands, improve existing farmlands and promote the application of information technology in the sector, among others,’’ the authority said.
The bank also pledged continued efforts to leverage development-oriented financial instruments and roll out more favourable credit policies to support farmland development in the future.
