China Development Bank to make huge loans for forest ecology

The China Development Bank (CDB), one of the country's policy banks, has pledged to step up financial support for forestry ecological construction during the 14th Five-Year Plan period (2021-2025).

A tourist visits a dawn redwood forest at Hongze Lake Wetland Scenic Area in Sihong county, Suqian, east China's Jiangsu province, Nov. 15, 2020. [Photo/Xinhua]

The lender said it intends to issue 150 billion yuan (about US$22.87 billion) in loans during the period to strengthen support for the construction of national reserve forests as well as forest ecology.

The CDB supported a batch of major forestry projects in 17 provincial-level regions, including Chongqing, Fujian and Guangxi, during the 13th Five-Year Plan period (2016-2020), and issued a total of 50 billion yuan in loans.

Founded in 1994, the CDB was designed to provide finance to major national projects and development strategies.