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Favorable loans to mudslide-hit areas

08-16-2010 08:43 BJT Special Report:China Fights Worst Flood in Decades |

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China is ordering the country's financial institutions to provide preferential loans to victims in mudslide-hit regions of Gansu and Sichuan provinces.

The People's Bank of China and China Banking Regulatory Commission say they will provide favorable policies. The minimum down payment for a home in the disaster-affected urban regions could be reduced to 10 percent.

The interest rate for home loans could be cut to possibly 60 percent of the benchmark rate. Banks have also been asked to help ease loan pressures for rural residents in the disaster-affected regions.

Editor:Zhang Jingya |Source: CNTV.cn

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