Aksu: Agricultural Development Bank of China will do a good job in issuing loans for cotton purchase

“We are very grateful to the Agricultural Development Bank of China for distributing the cotton purchase funds in time before the National Day, allowing us to do the cotton purchase work with peace of mind.” On October 7, the person in charge of Awati Cotton Industry Co., Ltd. of China Cotton Group Mr. Liu said.

In order to further stabilize market expectations, the Aksu Regional Branch of the Agricultural Development Bank of China has given full play to its policy function as “the main channel for supplying funds for cotton acquisitions”, carefully conducted market surveys, sorted out and mapped out the situation of cotton loans this year in advance, and urged all counties to The (city) branch promptly reports credit granting and credit utilization processes, conducts loan investigation, review, and approval in strict accordance with review requirements and operating procedures, conducts in-depth analysis and judgment of the impact of rising domestic cotton prices on the region, formulates countermeasures, and reasonably controls the pace of loan disbursement. . At present, 10 cotton loans within the approval authority have been completed, with an amount of 1.599 billion yuan, and a total of 2.145 billion yuan of cotton loans for the new year have been completed, effectively integrating credit review, investment and risk prevention and control, and doing a good job of “money waits for cotton”.

AAA

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