Inclusive finance development receives central government special fund support

Xinhua News Agency, Beijing, Sept 29 (Reporters Han Jie, Shen Cheng) - Reporters learned from the Ministry of Finance on the 29th that in order to accelerate the establishment of an inclusive finance service and guarantee system, the central government has allocated special transfer payment funds to provide support in four areas: rewards for the incremental agricultural loans of county-level financial institutions, targeted fee subsidies for rural financial institutions, interest subsidies and rewards for startup guarantee loans, and reward-for-subsidy support for government and social capital cooperation (PPP) projects.

The Ministry of Finance has specifically issued the "Measures for the Management of Special Funds for Inclusive Finance Development" for this purpose. The measures are valid for three years and aim to comprehensively use business rewards, fee subsidies, loan interest subsidies, and reward-for-subsidy methods to guide local people's governments at all levels, financial institutions, and social funds to support the development of inclusive finance, and to ensure that farmers, small and micro enterprises, urban low-income groups, poor groups, people with disabilities, the elderly, and others can enjoy basic financial services.