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NDRC Approves the Foreign Capital Utilization Plan for New

Development Bank Financial Intermediaries’ On-Lending Project to

Support China’s Economic Recovery from COVID-19

  In order to further ensure stability on the six fronts and security in the six areas, and make full use of international financial organization loans to promote China’s post-epidemic economic recovery and development, the National Development and Reform Commission has recently approved the Foreign Capital Utilization Plan for New Development Bank financial intermediaries’ on-lending project to support China’s economic recovery from COVID-19. The project utilizes 1 billion USD from the New Development Bank and adopts financial intermediaries’ on-lending form, with the Export-Import Bank and the Agricultural Development Bank as the implementing agencies to undertake the transfer loans of USD 700 million and USD 300 million respectively. The implementing agencies will provide short-term working capital loans or medium/long-term fixed asset investment loans to eligible sub-projects in accordance with the principle of not profit-oriented, independent selection, independent evaluation and risk-assumed. The implementing agencies will also provide the necessary matching domestic loans according to the actual situation.

(Department of Foreign Capital and Overseas Investment)