China Development Bank ups loan support for water conservancy projects

BEIJING - China Development Bank, one of the country's policy banks, issued 186.4 billion yuan ($27.53 billion) of loans in 2022 to shore up the country's development in water conservancy.

The loans mainly supported China's major water conservancy projects, such as the irrigation system of the Dateng Gorge in South China and the comprehensive management of the Yongding River basin in North China, according to the bank.

In the next stage, it will focus on key areas and weak links in the field of water conservancy and strengthen financing support to promote high-quality development in this field.

More support will be offered to improve the capabilities of flood and drought prevention, optimize the allocation of water resources, and advance the intensive utilization and conservation of water, said the bank.