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Central bank to give out 100b yuan of loans by year end

(Xinhua)
Updated: 2008-11-11 20:03

The People's Bank of China, the country's central bank, said Tuesday it would guide policy banks to make additional 100 billion yuan ($14.64 billion) of loans by the end of 2008.

The money would go to the construction of key projects and the purchase of agricultural products, the central bank said, without elaborating.

It also encouraged commercial banks to provide supporting loans for  projects covered by the central government's investment of 100 billion yuan before the year end.