$27b in infrastructure loans given out by China policy bank

China’s largest policy bank said on Friday that it had disbursed RMB 181.5 billion ($27 billion) in loans for urban development projects in the first half of the year, and pledged to maintain an accelerated pace of lending to fund infrastructure, reports Reuters.

The China Development Bank (CDB) has supplied RMB 650 million in loans to fund the renewal of an economic zone in the eastern city of Yantai, including the renovation of industrial facilities, it said.

The CDB also separately gave loans of RMB 280 million and RMB 98 million for the construction of gas, electricity and water pipelines in the eastern city of Chuzhou and the capital of Beijing, respectively.