August 29, 2011

Agricultural Development Bank, COFCO to build grain safety fund

The Agricultural Development Bank of China (ADBC) said Friday (Aug 26) it has signed a rural credit cooperation deal with China's leading food processing company COFCO.

They will set up a grain safety fund together to carry out equity investment in projects related to grain safety.

The ADBC agreed to provide a maximum of RMB30 billion (US$4.69 billion) of credit line to COFCO to support its development.