China Development Bank (CDB), one of the country's major policy banks, said it had issued loans to the tune of 705.3 billion yuan (about 100.7 billion U.S. dollars) in the first half of the year to support the country's energy and transport sectors.
Outstanding loans grew by about 282 billion yuan during the period, and the funding went to support the development of road, rail transit, water transportation, airport and energy projects, data from the bank showed.
To support aviation companies, which were hit especially hard by COVID-19, CDB issued loans worth 5.5 billion yuan in the first six months to support their business resumption.
The bank said it will continue to give full play to the advantages of development finance and provide timely and efficient financial support for the energy and transport sectors.
Founded in 1994, CDB is designed to provide finance to major national projects and development strategies. It has become the world's largest development finance institution, and the largest Chinese bank for foreign investment, long-term lending and bond issuance.
Editor:Cherie
