China Development Bank lends 104 bln yuan for transportation, logistics infrastructure development in Q1

An aerial drone photo shows trains running on the Taipinghu grand bridge along the Chizhou-Huangshan Railway in east China's Anhui Province, April 26, 2024. (Photo by Gu Shaoyuan/Xinhua)

BEIJING, May 5 (Xinhua) -- China Development Bank (CDB) said it had issued 104 billion yuan (about 14.63 billion U.S. dollars) in loans during the first quarter of 2024, in an effort to bolster the advancement of transportation and logistics infrastructure projects.

Funds were channeled to key projects nationwide, encompassing construction of the high-speed rail network, hub airport reconstruction and expansion, and national logistics hub construction development, according to the CDB.

Among projects to receive such financing in Q1 were the construction of the Xiamen Xiang'an International Airport and Chongqing-Wanzhou high-speed railway.