URUMQI, March 13 (Xinhua) -- Financial institutions in northwestern China's Xinjiang Uygur Autonomous Region have stepped up support for poverty-stricken areas, as part of the poverty relief efforts to help the region shake off poverty.

The Xinjiang branch of the Agricultural Development Bank of China plans to loan 33.3 billion yuan (about 4.76 billion U.S. dollars) across the region this year. Among that, more than 20 billion yuan will go to four prefectures in southern Xinjiang, which have long suffered poverty, underdeveloped economy, extreme climate and fragile environment.

As of March 9, the Agricultural Development Bank of China has loaned nearly 4 billion yuan in the region, covering more than 105 enterprises in 50 counties and cities.

Xinjiang Rural Credit Union said that since the start of the novel coronavirus outbreak, the institution has lent over 30 billion yuan for its customers in Xinjiang who have been affected by the epidemic, with preferential policies such as lowering the interest and extending the repayment period.

Xinjiang lifted 645,000 out of poverty in 2019. The region aims to eradicate absolute poverty by lifting the remaining 165,000 people out of poverty in 2020.