Following the launch of 34 measures in 6 areas to support epidemic prevention and control on February 6, the Agricultural Development Bank of China (ADBC) issued the "Implementation Opinions on Strengthening Agricultural Policy-based Financial Services, Coordinating Support for Epidemic Prevention and Control and the Enterprises’ Resumption of Work and Production" on February 28 (“Implementation Opinions”), which promoted 20 new measures in 6 areas.

The "Implementation Opinions" focused on six credit measures, namely, adjustment of group customer management, reasonable determination of working capital loan terms, appropriate tolerance in credit extension, optimization of disbursement supervision, implementation of differentiated measures at different levels, and temporary measures of deferred loan and interest payment arrangements. Four preferential policies were also clarified. First, arrange credit resources preferentially. The emergency loan plan for epidemic prevention and control is fully guaranteed; a special credit line of RMB120 billion is set up to support the resumption of work and production of small, medium and micro-sized enterprises; the credit scale for areas affected by the epidemic is separately increased; the development loan plan of RMB10 billion is made for the whole industry chain of live pigs. Second, implement preferential interest rates. Preferential interest rate policies will be implemented for work and production resumption loans in key areas of the green channel program; emergency loan pricing for epidemic prevention and control offers maximum concession. Third, ensure the supply of funds. Increase bond issuance and deposit mobilization efforts, and guide social funds to support epidemic prevention and control and the enterprises’ resumption of work and production. Fourth, make full use of the special refinance for epidemic prevention and poverty alleviation from PBOC and fiscal interest subsidy policies. Credit funds and fiscal funds are combined to support epidemic prevention and control and the enterprises’ resumption of work and production.

According to statistics, as of February 28, ADBC had approved RMB55.458 billion emergency loans for epidemic prevention and control, and extended RMB34.39 billion loans, supporting 1,217 enterprises. Among them, RMB17.888 billion was distributed to related industries such as pharmaceutical sales, pharmaceutical manufacturing and medical equipment production, and a total of 537 companies were supported to purchase or produce 108.23 million masks, 1.36 million tons of disinfectants, 5.25 million goggles, 36.26 million sets of protective clothing, 233.69 million pairs of gloves, 1.76 million temperature measuring equipment, 53,000 emergency medical equipment, 105,000 tons of raw materials for pharmaceuticals, 4396 emergency hospital beds, etc.; RMB16.502 billion was distributed to related industries for livelihood supplies, supporting 562 companies in total to purchase or process 2.66 million tons of grain, 190,000 tons of edible oil, 200,000 tons of vegetables, and 110,000 tons of meat.