(ECNS) -- China's central bank has increased its agricultural and small-business relending quota by 100 billion yuan (about 14.7 billion U.S. dollars) to support flood control, disaster relief and post-disaster reconstruction, the People’s Bank of China (PBOC) said on Tuesday.
The additional funds will guide financial institutions in providing stronger credit support to businesses, particularly micro and small enterprises, individual businesses, agricultural and breeding companies, and farmers in disaster-hit areas.
The affected regions include Guangxi Zhuang Autonomous Region and the provinces of Hubei, Gansu and Zhejiang, according to the PBOC.
The central bank said it will urge its branches in relevant provincial-level regions to make full use of the new quota. It will also encourage financial institutions to respond actively to financing needs in disaster-stricken areas and help create a sound monetary and financial environment for flood control, relief efforts and reconstruction.
(By Intern Lin Qiaochu, Zhang Dongfang)
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