China's rural policy bank supports forestry sector with loans

BEIJING - China's rural policy bank has issued loans of 40.5 billion yuan ($6 billion) to help the country's forestry sector.

Since the startup of such loan services in 2016, the Agricultural Development Bank of China (ADBC) has launched 184 loan projects to protect and develop forestry resources.

Last year, the policy bank lent 14.4 billion yuan to increase support to boost foretry ecosystem development, it said.

While upgrading the term structure of loans for the sector, the ADBC has expanded its service to 25 provincial-level regions.

Moreover, the ADBC has developed a series of sustainable projects for the sector, including PPP project financing, poverty alleviation and coastal ecological management, according to the bank.

Established in 1994, the ADBC is under the direct leadership of the State Council to raise funds through a market based on national credit to support the development of agriculture, rural areas and farmers.