China policy bank to lend $144.4 bln for shanty town rebuilding in 2016

February 2, 2016 5:44 AM

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BEIJING Feb 2 China Development Bank (CDB) plans to lend 950 billion yuan ($144.4 billion) to fund the rebuilding of shanty towns in 2016, up from 750.9 billion yuan last year, the official Financial News reported on Tuesday, citing the bank's chairman.

CDB, a state-owned policy bank, plans to lend 100 billion yuan to the railway sector this year, after making 109 billion yuan in such loans in 2015, the newspaper quoted Chairman Hu Huaibang, as saying.

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