ADBC issues loans to aid farmland infrastructure

BEIJING (Xinhua) – The Agricultural Development Bank of China (ADBC), an agricultural policy bank, has ramped up financial support in the first quarter of this year to support farmland infrastructure building.

In the first quarter, the ADBC funded 170 farmland-related projects with CNY28.59 billion (about USD4.04 billion) in loans, according to the ADBC.

Of the total, CNY22.5 billion was lent to support the building of farmland infrastructure.

By the end of March, outstanding loans to the sector totalled CNY151.68 billion, increasing by CNY21.43 billion from the same period last year.