Chinese Policy Bank Steps Up Financial Support For Forest Ecology

 BEIJING, July 3 (Xinhua) — The China Development Bank (CDB), one of the country’s policy banks, stepped up financial support for forestry ecological construction in the first five months.

   The lender issued 7.4 billion yuan (about 1.02 billion U.S. dollars) in loans to support a batch of major forestry projects in Guangxi, Guangdong, Zhejiang and Jilin during the period.

   By the end of May, the lender’s outstanding loans for forestry ecological construction had amounted to 78 billion yuan. According to the CDB, due to its financial support, 15 million mu (1 million hectares) of reserve forest had been built in the country.

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