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SDB & Beijing Municipal Government in Full Financial Cooperation
On December 29, the State Development Bank (SDB) and Beijing Municipal Government signed an all-round cooperative agreement in Beijing. The both sides will propel the close cooperation, construct the credit structure, commonly prevent the risk and boost the economic construction and social development of the capital.
Referring to the agreement, the SDB will provide financial aid to the Beijing city on the infrastructure, elementary industry, pillar industry, significant technical transformation and high technology project. About 50 billion yuan loan will be released by the SDB to Beijing on urban light rail, expressway, road connection, information network, natural gas, electric power atmosphere cleaning and environmental protection of water resource. Additionally, Zhongguancun High-tech Park will attain 8 to 10 billion yuan loan within 3 years for construction. Other financial consultative services can also be gained by Beijing from the SDB on the stipulating adjusting plan for economic structure, reallocating innovative resources, cultivating investment system, project financing, consortium loan and asset reconstruction etc.
At the same time, Beijing municipal government will aggressively assist the SDB to audit and administrate loan releasing project, reclaim the principal and interest, prevent and ease the credit risk.
It is learnt that for the last years, the SDB has increasingly enhance the support to the economic and social development in Beijing. All together, 20.5 billion yuan loan has been extended in Beijing area. (Panorama)
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