The central bank increases the re-loan line of 20 billion yuan to support agriculture.
The people's Bank of China announced on the 27th that it will increase the quota of re-loans for agriculture to some branches by 20 billion yuan to guide rural financial institutions to expand agriculture-related credit.
A relevant responsible person of the central bank said that the purpose of this move is to implement the requirements put forward by the executive meeting of the State Council on July 23 to "increase support for agriculture, small re-loans and rediscount," and to improve the ability to provide financial services for weak links in the national economy, such as agriculture, rural areas and farmers.
The central bank clearly requires that the preferential interest rate of re-loans for supporting agriculture should be implemented, and the interest rate of agriculture-supporting re-loans of rural financial institutions in poverty-stricken areas can be reduced by another 1 percentage point on the basis of the preferential interest rates. the interest rate of agriculture-related loans granted by rural financial institutions to support agriculture should be lower than the weighted average interest rate of other agriculture-related loans of the same period and grade in the same financial institution.
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