High-standard farmland construction pilot projects can enjoy discount interest subsidy policy starting from August
On the 21st, a reporter 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 of High-standard Farmland Construction." The notice states that starting from August, the two parties will adopt two methods, discount interest and subsidies, to support high-standard farmland construction pilot projects implemented by various agricultural operating entities such as state-owned farms, leading enterprises in agricultural industrialization, farmers' professional cooperatives, joint-stock cooperatives, specialized large households, and family farms.
⟦NL> According to the introduction, this cooperation between CDB and the Ministry of Finance to support high-standard farmland construction will help give play to the leverage of fiscal funds and the advantages of CDB's 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 the mode of fiscal input 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 the screening and recommendation of high-standard farmland construction pilot projects, strictly check according to construction standards and requirements, and strengthen business guidance; CDB should, in light of the actual agricultural development and financing characteristics of the region, actively explore financing models and increase medium- and long-term credit support for high-standard farmland construction.
As the government's development financial 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 supporting agricultural infrastructure construction, grain production, the development of seed industry and animal husbandry and other industries, and agriculture “going global” and many other fields.