Bank Offers Huge Credit Loan to University

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Wednesday, July 25, 2001, updated at 07:51(GMT+8)

Business

Bank Offers Huge Credit Loan to University

The Agricultural Bank of China (ABC) will provide a total of three billion yuan (about 361.4 million U.S. dollars) in loans to the Tongji University for its educational development in the next five years, according to an agreement signed Tuesday.

The agreement said that ABC will provide a wide range of financial services to the Shanghai-based university to expedite the industrialization of its research achievements.

Loans granted by ABC will be used primarily for the university' s infrastructure construction, school building projects, renovation of educational facilities and the establishment of a distance-education network.



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	The Agricultural Bank of China (ABC) will provide a total of three billion yuan (about 361.4 million U.S. dollars) in loans to the Tongji University for its educational development in the next five years, according to an agreement signed Tuesday.




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