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China's agricultural policy bank pledges massive loans for seed industryqrcode

Apr. 12, 2022

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Apr. 12, 2022

Agricultural Development Bank of China (ADBC), one of the country's three policy banks, will issue no less than 100 billion yuan (about 15.6 billion U.S. dollars) of loans from 2021 to 2025 to support the high-quality development of the country's seed industry.

The bank said during the five-year period it will give financial priority to tackling key problems in the breeding of rice, wheat, corn and soybeans, and support the development of competitive seed companies and the expansion of soybean and oilseed production.

ADBC will also provide financial support to the development of national seed breeding and production bases as well as breeding bases for pigs, cows and waterfowl.

Established in 1994, ADBC is the only agricultural policy bank in China under the direct leadership of the State Council, the country's cabinet.

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Source: Xinhua News
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