China Development Bank Unveils Further Covid Relief Measures

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One of China’s big three policy banks has announced the launch of further measures to help businesses left distressed by the impacts of the Covid pandemic.

China Development Bank (CDB) recently unveiled a series of measures to provide more financial services to sectors and enterprises adversely affected by the Covid pandemic, according to a report from the regulatory news agency.

CDB said the it would “help industries and enterprises severely affected by the pandemic to transition through adversity and resume growth.”

Since the start of the year CDB has extended 30.6 billion yuan in loans to support China’s “Three Agricultures” policy, as well as expanded micro-and-small enterprise (MSE) financing.

As of the end of the second quarter CDB had provided 233.4 billion yuan in transfer loans to support MSE’s in resolving their production and operating challenges.