Agricultural Bank Grants University 2-billion-yuan Credit Line

Home>>Sci-Edu

Last updated at: (Beijing Time) Tuesday, November 20, 2001

Agricultural Bank Grants University 2-billion-yuan Credit Line

The Agricultural Bank of China(ABC) announced Monday that it has granted a 2-billion-yuan (about242 million U.S. dollars) credit line to Jilin University in northeast China's Jilin Province.

The Agricultural Bank of China(ABC) announced Monday that it has granted a 2-billion-yuan (about242 million U.S. dollars) credit line to Jilin University in northeast China's Jilin Province.

��The credit will be used for campus infrastructure, new laboratories, long-distance education and the setting up of a scientific park in the campus, bank source said.

��The ABC has signed a cooperation agreement with the university and promises to provide a package of financial services, including deposits, loans, credit cards, the settlement of accounts and on-line services.

��The bank source also said that the ABC will also provide investment bank services to the university when it wants to finance its projects or have them listed.

��The ABC ranked 341st last year in Fortune magazine's world top 500 banks, which focus mainly on rural areas.

��Jilin University is one of China's major universities with 54,000 full-time students, of whom 8,000 are studying for doctor's ormaster's degrees.

Bank Offers Huge Credit Loan to University