China Development Bank to make huge loans for forest ecology

BEIJING -- The China Development Bank (CDB), one of the country's policy banks, has pledged to step up financial support for forestry ecological construction during the 14th Five-Year Plan period (2021-2025).

The lender said it intends to issue 150 billion yuan ($22.87 billion) in loans during the period to strengthen support for the construction of national reserve forests as well as forest ecology.

The CDB supported a batch of major forestry projects in 17 provincial-level regions, including Chongqing, Fujian and Guangxi, during the 13th Five-Year Plan period (2016-2020), and issued a total of 50 billion yuan in loans.

Founded in 1994, the CDB was designed to provide finance to major national projects and development strategies.