Arab Today, arab today bank loans help redevelop rundown areas in china
Last Updated : GMT 13:41:06
Arab Today, arab today
Arab Today, arab today

Bank loans help redevelop rundown areas in China

Arab Today, arab today

Arab Today, arab today Bank loans help redevelop rundown areas in China

China Development Bank
Beijing - XINHUA

China Development Bank (CDB) granted loans totaling 219.5 billion yuan (35.70 billion U.S. dollars) to redevelop rundown urban areas in the first half of 2014, benefiting 2.13 million families, it said on Monday.
Of the total, 195 billion yuan was lent after an early-April State Council meeting laid special stress on accelerating renovation projects.
CDB Chairman Hu Huaibang said the loans will exceed 400 billion yuan this year and the bank will do its best to improve efficiency in the use of the money.
China is speeding up efforts to provide decent housing for people living in rundown areas as one of its major tasks in the urbanization process.

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