China Development Bank announced that it has doubled the resources it provides for the development of agricultural lands and increasing their productivity. The Development Bank, which provided agricultural land development loans worth 2,59 billion yuan (365 million dollars) in the first quarter of this year, has more than doubled the support it provided in the same period of the previous year.
China is carrying out many projects to become a self-sufficient country in agriculture. Financial institutions also provide financial support in the country, whose productivity increases with smart agricultural practices. In this context, the Development Bank provided financial support for high-standard agricultural land development in 13 grain producing regions of China to ensure grain security and stable supply of agricultural products. In the statement made by the bank, it was stated that the support will focus on areas such as infrastructure in rural areas and scientific and technological innovation in the agricultural sector.