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Agricultural Bank Hubei Branch Poverty Alleviation Loan

Time: 2013-07-24         Source: Agricultural Bank         Author: Agricultural Bank

  Poverty discount loanis ChinaABCAccording to the "Outline for China's Rural Poverty Alleviation and Development (2001-2010)", it has established a very strong policy loan to support the economic development of key poverty-stricken areas and the poverty-stricken population in rural areas.

Loan target
Poverty relief and discount loans are mainly used in key counties and poverty-stricken villages for national poverty alleviation and development work. They mainly support leading agricultural industrialization enterprises (including intermediary organizations such as farmers' brokers, associations, and large households) that help impoverish households to satisfy their needs and increase their incomes. We will appropriately support the construction of small and medium-sized infrastructure and social projects in rural areas (including small towns).

Loan conditions
In order to ensure that the subsidized interest-relief loans are actually used in poverty alleviation projects in key national support areas, the Agricultural Bank of China selects projects within the range of loan project libraries jointly determined by the provincial poverty alleviation department and the provincial finance department. Before issuing loans, the Bank must obtain the approval of the local financial department and poverty alleviation department.

Projects with poverty-relief and discount-related loans of over 100 million yuan will be reported to the State Council Office for Poverty Alleviation for the record.
Loan amount
The amount of the loan for the specific project is determined by the condition of the loan itself, and the amount approved by the authority (financial and poverty alleviation department) shall prevail.
Loan period

The duration of poverty alleviation loans is determined by financial institutions depending on the actual production cycle.

  Lending rates
The subsidized loans for poverty alleviation implement the method of directly providing financial subsidies to enterprises. The lending bank collects loan interest in full in accordance with relevant regulations of the People's Bank of China and loan pricing requirements. The discount interest rate is 3% per annum and the discount period is 1 year.

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