CDB Loans To Beijing-Tianjin-Hebei Region Hit 628.7 Bln Yuan In 2020

The China Development Bank (CDB), one of the country's policy banks, has issued 628.7 billion yuan (about 97.4 billion U.S. dollars) of loans to the Beijing-Tianjin-Hebei region in 2020, boosting the area's integrated development

BEIJING, (APP - UrduPoint / Pakistan Point News - 12th Feb, 2021 ):The China Development Bank (CDB), one of the country's policy banks, has issued 628.7 billion yuan (about 97.4 billion U.S. dollars) of loans to the Beijing-Tianjin-Hebei region in 2020, boosting the area's integrated development.

The bank said its financial support went to projects of transport integration, environment protection and industrial development in the region.

To boost the industrial upgrading and transfer in the region, the bank supported firms including leading Chinese display producer BOE Technology Group Co., Ltd. and the HBIS Group, one of the world's largest steelmakers based in Hebei Province.

It also helped fund an afforestation project that will cover around 6,667 hectares in Xiongan New Area in Hebei, which is dubbed China's "city of the future."The CDB has pledged to step up financial support for forestry ecological construction during the 14th Five-Year Plan period (2021-2025), aiming to issue 150 billion yuan in loans during the period to strengthen support for the construction of national reserve forests as well as forest ecology. Founded in 1994, the bank provides financing support to major national projects and development strategies.