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DBC Supports East China Power Grid
The Development Bank of China (DBC) has invested huge funds in support of east China construction. On July 11, the Shanghai branch of the DBC signed a contract with the East China Power Group Company on extending a loan of 1.826 billion yuan to support the construction of the 500 kv power transmission and transformation projects of Jiangsu, east China. It is another major action taken by the DBC to promote the development strategy of the east China power grid to "transmit electricity from north to south".
The east China power grid is the largest trans-province power grid in China. With the rapid growth of power load in east China regions, the problem of the weak 500 kv main rack has become increasingly prominent. To enhance trans-province power-transaction capacity within the east China power grid, the DBC provided a loan of 1.826 billion yuan for the construction of 500 kv power transmission and transformation project of Jiangsu, east China.
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