The China Development Bank (CDB), one of the country's major policy banks, will issue loans worth over 64 billion yuan (about US$9.02 billion) to central China's Hubei province this year.
The scale of the new loans for virus-hit Hubei province will double compared with last year to support enterprises affected by the COVID-19 epidemic.
The loans will mainly focus on key areas including work and production resumption, poverty alleviation, Yangtze River protection and green development, traditional and new infrastructure, sub-loans to small and micro enterprises, high-quality development of manufacturing sector, and renovation of old urban residential areas.
The CDB has offered a special foreign exchange loan worth US$500 million to support Hubei's major enterprises in industrial chains including areas of chips, storage and display screen.
In addition, a sub-loan of 5 billion yuan will be issued to help private small and micro businesses in Hubei to tide over financing difficulties.
