CDB lends US$38bil for infrastructure projects in 1Q

Worker miniatures are placed among the flag of China and printed circuit boards with semiconductor chips, in this illustration picture taken July 5, 2023. REUTERS/Florence Lo/Illustration/File Photo

BEIJING: China Development Bank (CDB) has issued 266.9 billion yuan (US$37.61bil) in loans during the first quarter of 2024 to bolster the advancement of infrastructure projects.

Funds were channelled to 102 key projects nationwide, encompassing the development of network-type infrastructures across transportation, energy, and water conservancy, the upgrading of infrastructure for industries such as information, technology and logistics, urban infrastructure, agricultural and rural infrastructure, and national security infrastructure, according to the CDB.