Loan for rural upgrade in China

On 17 September, the People’s Republic of China and NIB signed an agreement on a USD 20 million rural loan programme.

The loan will be used for the modernisation of agricultural production in China’s rural areas, which is an important priority in the country’s economic policies. Nordic suppliers are expected to contribute with competitive technologies in this area.

The agreement was signed by Li Yong, Vice Minister of Finance of the People’s Republic of China; and, on behalf of NIB, Johnny Åkerholm, President and CEO, and Nils Emilsson, Executive Vice President. At the signing ceremony, Li Yong underlined that NIB’s loan is an important contribution to the upgrade of rural production in China and reflects the Bank’s commitment to the cooperation, which began over 20 years ago.

Apart from the current loan programme, the parties discussed intensifying the cooperation in prioritised environmental projects in China.