High-standard farmland construction pilots can enjoy interest subsidy and grant policies starting from August
The reporter recently learned from the China Development Bank that the Ministry of Finance and CDB recently jointly issued the "Notice on Innovating Investment and Financing Models to Accelerate the Pilot Program for High-Standard Farmland Construction." The notice states that starting from August, the two parties will adopt two methods - interest subsidies and grants - to support high-standard farmland construction pilot projects implemented by various types of agricultural operating entities, including state-owned farms, leading agricultural industrialization enterprises, farmers' professional cooperatives, joint-stock cooperatives, specialized large-scale farmers, and family farms.
According to reports, this cooperation between CDB and the Ministry of Finance to support high-standard farmland construction will help give play to the leveraging role of fiscal funds and CDB's advantage in providing medium- and long-term large-scale credit support, innovate new models and mechanisms for effectively combining comprehensive agricultural development funds, credit funds, and social funds, concentrate efforts to accelerate the progress of high-standard farmland construction, expand the scale of construction, and open up new paths in transforming fiscal investment methods and deepening rural financial reform.
The notice requires that CDB strengthen cooperation with agricultural comprehensive development offices at all levels and establish an effective communication and coordination mechanism. Agricultural development institutions should actively do a good job in screening and recommending high-standard farmland construction pilot projects, strictly check against construction standards and requirements, and strengthen business guidance; CDB should, in light of the actual situation of agricultural development and financing characteristics in the region, actively explore financing models and increase medium- and long-term credit support for high-standard farmland construction.
As the government's development finance institution, CDB has long been committed to supporting China's agricultural development. As of the end of June, CDB had cumulatively issued 167 billion yuan in modern agriculture loans, with a loan balance of 60.5 billion yuan, achieving positive results in multiple areas including supporting agricultural infrastructure construction, grain production, the development of the seed industry and animal husbandry, and agriculture “going global.”