CDB unveils $46bn science, innovation loan plan

Region:

Asia-Pacific

The China Development Bank has pledged to beef up its financial support for scientific and technological innovation during the 14th Five-Year Plan period (2021-2025).

A total of CNY300 billion (about $45.88 billion) under a special loan program for innovation and research will be arranged for the next five years, the bank said, adding that loans worth CNY50 billion will be offered this year.

The special loan program will be mainly used for supporting fundamental research and original innovation to facilitate the implementation of strategic projects on science and technology, the bank said.

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