Chinese policy bank ramps up support for water conservancy projects

This photo taken on July 30, 2023 shows rain water passing through a floodgate on Liangshui River in Beijing, capital of China. (Xinhua/Zhang Chenlin)

BEIJING, July 30 (Xinhua) -- China Development Bank, one of the country's policy banks, has scaled up financial support for major water conservancy projects nationwide in the first half of this year.

During the period, the policy bank issued loans worth 110.2 billion yuan (about 14.45 billion U.S. dollars) to boost the construction of these projects, it said.

So far, the policy bank has provided financial support for the construction of major projects in water diversion, water resource allocation and irrigation, among others, to boost the country's water supply and ensure water security, it said.

As China is in a crucial period of flood prevention, the policy bank issued loans to help reinforce levees and dilapidated reservoirs, and enhanced financial assistance to deal with the disasters.

It also released loans aimed at funding the comprehensive treatment and ecological restoration of the country's major rivers and ensuring the water supply in rural areas.