Chinese Bank offers USD 1.52 billion loans to combat drought

Chinese Bank offers USD 1.52 billion loans to combat drought The People's Bank of China (PBOC) said that it will provide USD 1.52 billion of new loans to financial institutions in drought-ridden provinces on Feb. 23, 2011. The loans will be provided to farmers to buy agricultural materials like seed, fertilizer and pesticide, and to improve infrastructure in rural areas.

Source: CCM International Ltd