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ADBC Granted RMB 280 Billion Loans in the First Half of the Year to Fully Support Poverty Alleviation
2020-07-02

Agricultural Development Bank of China (ADBC) has taken the poverty alleviation as its top priority of the year. Insisting on advance planning, arrangement and implementation, speeding up its efforts and working hard to overcome the impact of the Covid-19 epidemic, the Bank has achieved remarkable results in providing full support for the deep poverty regions and designated poor counties, as well as the resumption of work and production.

By the end of June, the Bank had granted RMB 288.106 billion loans in poverty alleviation, completing 102.9% of the annual target of RMB 280 billion, increasing RMB 136.179 billion or 89.6% over the same period last year. Among them, RMB 175.828 billion loans were granted for poverty alleviation through industrial development, completing 125.59% of the annual target of RMB 140 billion. RMB 14.9 billion poverty alleviation loans were granted in 52 designated poor counties, completing 137.97% of the annual target of RMB 10.8 billion, 5.2 times over the same period last year.

The Live Pigs Ecological Agribusiness Chain Project, key industrial poverty alleviation project of Longlin County of Guangxi Province, was officially inaugurated recently. Longlin is the targeted county of ADBC’s assistance. The project, being constructed and invested RMB 875 million by Beijing Dabeinong Technology Group Co.,Ltd., was introduced and supported by ADBC. Upon completion, it is estimated that 500,000 pigs will be available for the market every year, and the project will become a strong support for local poverty alleviation. Up to now, all the tasks assigned by the central government and committed by ADBC have been completed in advance.



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