China Development Bank issues loans for flood relief

China Development Bank, one of the country's major policy banks, has issued emergency loans worth 2.18 billion yuan (US$311.45 million) for flood prevention and relief.

Of the total, some 1.16 billion yuan have been allocated to Jiangxi Province for purchasing anti-flood supplies, reinforcing flood control facilities as well as repairing infrastructure after waters recede.

As of July 10, the bank had issued 1.02-billion-yuan loans to hard-hit areas of Anhui Province to support emergency maintenance of infrastructure damaged in floods, relocation of affected people and procurement and distribution of disaster relief supplies.

This year, CDB has issued more than 30 billion yuan in emergency loans, contributing to the prevention and control of COVID-19, production, sales and transportation of epidemic prevention materials, as well as drought and flood prevention and relief.

The bank said it will continue to keep a close eye on the progress of flood control and relief work and provide quality and efficient financing services.