China Development Bank Issues 4.4 Billion Yuan in COVID Emergency Loans in First Quarter

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Chinese policy lender China Development Bank (CDB) has continued to provide copious volumes of funds to COVID-19 relief efforts since the start of 2022.

CDB recently issued its “Notice on Using Emergency Loans to Support Local Government Development of Shelters, Hospitals, and Disease Prevention Quarantine Points” (关于以应急贷款支持地方方舱医院及防疫隔离点建设的通知), outlining lending efforts since the start of the new year.

According to the Notice CDB had provided 4.4 billion yuan in emergency response loans in 2022 as of the end of March, for the purpose of “providing timely and highly effective funds support to pandemic prevention throughout China.”

Major loans include:

  • 410 million yuan in emergency loans in the Shandong province cities of Weifang and Zibo.
  • Around 400 million yuan in loans by CDB’s Qingdao branch.
  • Around 160 million yuan in emergency loans extended to cities in Liaoning province including Shenyang within a 48 hour period.
  • 50 million yuan in emergency loans for the Jinpu New District of Dalian.