The People’s Bank of China (PBOC) said Monday that it has arranged a 12 billion-yuan (about 1.94 billion dollars) re-lending quota to boost financial support for small and micro-businesses and rural areas.
Re-lending is a monetary tool used by the PBOC, the country’s central bank, to increase financial institutions’ liquidity and guide credit flows.
The central bank requires that funds from the quota be credited to small and micro-businesses, as well as the agricultural sector, rural areas and farmers.
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