China Development Bank boosts support for poverty relief

BEIJING - The China Development Bank (CDB), one of the country's policy banks, has stepped up financial support for poverty relief in the 13th Five-Year Plan period (2016-2020).

As of the end of August, the CDB had issued 1.5 trillion yuan ($221.89 billion) in loans to support poverty relief during the past five years, the lender said.

Of the total, 232.5 billion yuan was issued this year, as the country aims to achieve its goal of eliminating absolute poverty this year.

Founded in 1994, the CDB is designed to provide finance to major national projects and development strategies.