China Development Bank issues 2.85t yuan of loans in 2020

BEIJING - China Development Bank issued loans totaling 2.85 trillion yuan ($440.46 billion) last year to facilitate epidemic control and economic growth.

The policy bank extended 31.5 billion yuan for emergency use of epidemic prevention and control, as well as 468.1 billion yuan of funds to projects related to infrastructure, the manufacturing sector, and people's livelihood, the bank said in its annual report.

Other funds flowed to sectors including poverty alleviation and green development, according to the bank.

The lender also pledged to actively use a variety of policy tools to benefit the real economy.