August 20, 2007

China's Hubei disburses US$ 800 million in loans to pig farmers
 

Credit cooperatives in Shandong province have disbursed more than RMB 4 billion (US$800 million) to about 200,000 local pig-raising households and companies since the beginning of the year.

The loans were a result of joint efforts to promote pig production and ensure sufficient market supply after pig diseases swept through China and affected farmers' confidence in pig-raising.

The local credit cooperatives have been also been launching petty loan and loans with mutual guarantee to pig-raising households and inventing new ways for  small- and medium-sized pig enterprises to secure loans.

There were also preferential policies for pig producers, such as priority for loans with higher credit line of over RMB 100,000 (US$13,157), lower interest rates, and expedited loan procedures.