The Agricultural Bank of China (ABC), one of China's biggest state-owned commercial lenders, has stepped up financial support for the preparation of spring farming amid the novel coronavirus outbreak.
The total outstanding agriculture-related lending has so far reached 3.87 trillion yuan (552 billion U.S. dollars), up 117.8 billion yuan from the beginning of the year, said the ABC.
The bank has rolled out a slew of measures, including expanding the lending scale and lowering lending rates, to facilitate spring farming preparations.
In major regions of epidemic control, the bank has released supporting policies to ensure farmers receive sufficient loans for spring farming preparations.
The bank has also promoted online financial services to fulfill farmers' financing demands to alleviate the impact of the epidemic on their purchase of seeds, fertilizer and pesticide.
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