China Development Bank issues emergency loans to flood-hit regions

Villagers unload food and bottled water from a truck in Longmen Township of Laishui County, north China's Hebei Province, Aug. 10, 2023. (Xinhua/Yang Shiyao)

BEIJING, Aug. 11 (Xinhua) -- The China Development Bank, one of the country's policy banks, has issued emergency loans worth 865 million yuan (about 120.83 million U.S. dollars) to north China's Beijing, Tianjin and Hebei that were affected by the recent floods.

The funds, issued since the beginning of August, have supported the regions in ensuring the supply of daily necessities and restoring transportation, power and telecommunication infrastructure, the bank said Friday.

Earlier this week, China's State Council urged more efforts to swiftly push floods-hit regions back on track, including repairing roads and communication facilities, restoring electricity and water services, ensuring sufficient market supply and stable prices, and fixing damaged farm fields and agricultural facilities.