China's rural policy bank to increase financial support for rural revitalization

(Xinhua) 08:37, February 26, 2024

This aerial photo taken on June 12, 2023 shows a view of Changlong Village in Cixi City, east China's Zhejiang Province. (Xinhua/Xu Yu)

BEIJING, Feb. 25 (Xinhua) -- The Agricultural Development Bank of China, the country's rural policy bank, has unveiled a guideline to step up credit support for China's Green Rural Revival Program, as part of efforts to promote rural revitalization.

The bank said it will target financial demands in key areas of the program, which highlights living condition improvements and the modernization of agriculture and rural areas, while also exploring effective means of providing financial support for the program.

Greater support will be given to improve rural living conditions, protect and conserve the ecological environment, increase the coverage of infrastructure and public services in rural areas, and build digital villages, the lender said.

It further pledged to broaden channels for farmers to help them increase their income, while keeping loan risks under control.

In 2023, the bank had issued loans totaling 488 billion yuan (about 68.67 billion U.S. dollars) to key areas of the Green Rural Revival Program, data showed.