China Development Bank cooperates with WeBank to help SMEs in financing

The China Development Bank cooperates with WeBank to provide 2 billion yuan of “transfer loans” to small and micro enterprises.
On the afternoon of May 12, the Shenzhen Branch of the China Development Bank signed a contract with Shenzhen Qianhai WeBank Co., Ltd., and the two sides formally reached cooperation on supporting small and micro enterprise projects by means of loan transfer.

The China Development Bank cooperates with WeBank to provide 2 billion yuan of “transfer loans” to small and micro enterprises.

On the afternoon of May 12, the Shenzhen Branch of the China Development Bank signed a contract with Shenzhen Qianhai WeBank Co., Ltd., and the two sides formally reached cooperation on supporting small and micro enterprise projects by means of loan transfer.

The total amount of the loan in the transfer cooperation is 2 billion yuan, which is used by Weizhong Bank to provide loans to small and micro enterprises (including products such as “micro industry loans”).

This is expected to cover 6,000 small and micro enterprises, focusing on alleviating the problems of financing difficulties and expensive financing for small and micro enterprises.

The first batch of loan business was quickly put in place on April 17, and the first batch of cooperation amounted to 400 million yuan, covering about 1,000 small, medium and micro enterprises.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/05/14/china-development-bank-cooperates-with-webank-to-help-smes-in-financing/.

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