China policy bank pledges 100 bln yuan in loans to elderly care services

Xinhua News,BEIJING
2020-10-08 10:59

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BEIJING, Oct. 8 (Xinhua) -- China Development Bank, one of the country's policy banks, plans to issue 100 billion yuan (about 14.7 billion U.S. dollars) of loans for elderly care services over the next five years.

The loans will be used to support 300 leading elderly care service providers and the development of senior care systems in 300 cities in a bid to cope with an aging population.

By the end of August, the lender had issued a total of 38.6 billion yuan of loans to support senior care programs of 396 clients in 30 provincial-level regions.

The lender will continue to provide financial aid to such programs while strengthening risk control, it said.
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