Agricultural Bank of China strengthens support for major infrastructure projects

Source: Xinhua| 2019-06-09 20:54:53|Editor: zh
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BEIJING, June 9 (Xinhua) -- The Agricultural Bank of China will increase financial support for major infrastructure projects in strengthening areas of weakness, said the bank recently.

The bank said it will actively participate in the construction of major infrastructure projects in the Xiongan New Area, Guangdong-Hong Kong-Macao Greater Bay Area, and Hainan free trade zone, among others.

Special attention will be paid to key projects at the national and provincial levels, which generate sustainable cash flows or boast profit-making patterns, with support of sufficient financial funds.

At the same time, the bank will strengthen the support for capital-in-place and procedure-based necessary projects which are under construction and projects in strengthening areas of weakness.

The support will be under the premise of not increasing the implicit debt scale of local governments, and in accordance with the principles of controllable risk and commercial sustainability, according to the bank.

In addition, the bank will also take advantage of investment banks, funds, leasing, insurance and other integrated financial service platforms to strengthen the linkage between public and private sectors, so as to provide all-round, sustainable financial services for projects in strengthening weak points.

The Agricultural Bank of China's infrastructure loans have grown at an average annual rate of more than 10 percent in recent years, an official in charge of the bank's corporate operations department said.