February 7, 2006

Chinese agricultural bank offer loans for grain seeds
 

Agricultural Development Bank of China said it received regulatory approval to grant loans for seed purchases to increase grain and cooking oil production, Xinhua News Agency reported late Monday.

The bank, one of China's three policy lenders, said it will also increase loans to the sector to boost rural earnings, the report cited an unnamed bank official as saying.

The bank will raise funds for the loans partly through bond issues, the report said.