Agricultural Development Bank of China’s Aksu branch extended a credit of 16.12 billion yuan to ensure “money waits for cotton”
“Our company has a large demand for funds to purchase cotton. This year, the leaders of the Agricultural Development Bank of China have come to contact us many times to help us solve our difficulties.” On August 28, Zhu Mou, the person in charge of a cotton processing company in Awati County I am happy to say that this year, the Aksu branch of the Agricultural Development Bank of China extended a credit of 170 million yuan to the company to provide credit funding support for the company’s cotton purchase work.
As the main force in supporting agriculture, the Aksu Regional Branch of the Agricultural Development Bank of China estimates cotton output and cotton market price based on the regional cotton planting area of 9.5 million acres (7.1 million acres local and 2.4 million acres of the First Division of the Corps), and fully estimates cotton. In order to meet the demand for funds for acquisitions, we should do a good job in docking and rating the cotton acquisition companies to be supported as soon as possible. This year, a total of 29 cotton acquisition companies have completed the loan qualification identification work. At the same time, we will give full play to the role of the main channel for supplying funds for cotton purchase, and lower the comprehensive guarantee rate of loans for cotton purchase enterprises, which will be reduced by 6-7 percentage points this year compared with last year. Enterprises that can be identified as assistance loans will be given preferential interest rates, and the loan interest rate will be reduced by 0.1 percentage points from the previous year, effectively reducing the burden on enterprises. After the cotton is weighed, the “Shuhuitong” business will be used to provide enterprises with batch settlement services for cotton farmers’ cotton sales, shortening the detention time of funds and effectively protecting the interests of cotton farmers. At present, the bank is actively connecting with 27 cotton purchasing companies to complete credit extensions of 16.12 billion yuan, effectively achieving “money waits for cotton”.
AAA
Disclaimer:
Disclaimer: Some of the texts, pictures, audios, and videos of some articles published on this site are from the Internet and do not represent the views of this site. The copyrights belong to the original authors. If you find that the information reproduced on this website infringes upon your rights and interests, please contact us and we will change or delete it as soon as possible.
AA
