BEIJING, April 20 (Xinhua) --12 banks in central China's Hubei Province have provided a total of 34 billion yuan worth of credit support for 802 major enterprises, said the Hubei headquarters for the control and treatment of the pneumonia caused by the novel coronavirus (COVID-19) on Saturday.
Wang Yuling, president of the Wuhan Branch of the People's Bank of China (PBOC), said that the PBOC has established a total of 300 billion yuan special re-lending funds. By offering financial institutions funds at low costs, PBOC supports their efforts to assist enterprises that manufacture, sell and distribute emergency medical supplies and life necessities.
PBOC's Wuhan Branch, which has determined the list of major enterprises with local government, and urged relevant banks to open a "green channel" in a bid to facilitate enterprises to get loans quickly.
In order to show great support for Hubei's anti-epidemic effort, the PBOC has added 20 billion yuan re-lending funds for Hubei. (Edited by Zhang Yuan with Xinhua Silk Road, firstname.lastname@example.org)