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CDB Releases Policies to Enhance Follow-up Financial Support for Relocated Poor Families

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Time:2020-05-21  Source:CDB

Under the guidance of the National Development and Reform Commission and other ministries and committees, CDB recently introduced the Circular on Further Strengthening Follow-up Financial Support for Relocated Poor Families (the “Circular”), which defines the objectives, key tasks and measures with regard to follow-up financial support for relocated poor families in 2020.

As stated in the Circular, CDB will complete the annual loan issuance plan for follow-up financial support for relocated poor families ahead of schedule at the end of Q3 2020, with a focus on filling gaps in parks and scenic spots for poverty alleviation through industry development as well as in public utilities, which will help people registered as living in poverty who are relocated to large resettlement areas with more than 1,000 people, and especially areas with over 3,000 people, to overcome poverty through employment. CDB will strengthen industry development and employment assistance, support development of industrial parks in resettlement areas and enterprises located in these parks, enhance industry development based on local conditions, promote targeted collaboration in poverty alleviation between eastern and western regions, create employment opportunities through multiple methods, establish stable and closely interconnected mechanisms for integrating interests, help fill gaps in relevant industry infrastructure, and improve public services.

As stipulated in the Circular, CDB should implement preferential interest rate policies for loans granted to follow-up development projects assisting relocated poor families in order to alleviate poverty, accelerate the utilization of relent loans to support the business activities of relocated poor families, encourage effective interaction between follow-up development of resettlement areas and rural revitalization, and simultaneously support the expansion of distinctive core industries and the construction of related infrastructure for these industries. Meanwhile, CDB should strengthen management and supervision of loan programs, further standardize statistics on the effectiveness of the services provided to resettlement areas and relocated populations, and tighten post-loan management, with a view to ensuring sustainability and stability of poverty alleviation achievements.

According to reports, as of the end of Q1 2020, CDB had granted 2.7 billion RMB in loans to support 30 follow-up development projects assisting relocated poor families as part of poverty alleviation efforts, and it had released a total of 23.9 billion RMB in loans for facilitating follow-up development of relocated poor families. These loans have benefited about 300,000 relocated persons residing in 1,481 centralized resettlement areas in 92 counties, and have directly helped 2,889 people registered as living in poverty to increase their income through employment.