By following through the requirements made for targeted poverty alleviation by the Central government and regulatory authorities, the Bank has catered to the diverse financial needs for poverty alleviation and continuously improved its financial support and relevant guarantee measures. It has persistently deepened poverty alleviation by leveraging its policy-based financial advantages to provide diversified financial products and comprehensive services.
The Bank entered into the Long-term Financial Cooperation Agreement and Financial Poverty Alleviation Cooperation Agreement with China’s poverty relief agencies in 2008 and 2014 respectively. It has established a “two-way dynamic project recommendation mechanism” to facilitate socioeconomic development in poor regions through policy-based financial services and create favorable financial environments for more social resources to engage in poverty alleviation. Moreover, the Bank has been working on in-depth and targeted poverty alleviation to facilitate the implementation of policy-based finance in impoverished old revolutionary areas. In this regard, it issued the Implementation Plan for Loan Project Cooperation on Financial Poverty Relief in Impoverished Old Revolutionary Areas (Trial Implementation) with relevant government agencies in 2016, further increasing the beneficiaries of policy-based finance.
In terms of specific measures, the Bank has adhered to poverty alleviation through development and advanced the development of featured industries to help reduce poverty. It has promoted the shift in the approach of poverty alleviation by integrating “blood transfusion” with “blood making”. In this way, it has promoted the featured industries to help impoverished regions build capability for poverty reduction. It has provided public-benefit poverty relief loans to finance livelihood projects, including irrigation and water conservancy, medical care, and transportation.
The Bank has also adopted varies approaches of fighting poverty by taking into account the specific features of poor areas, such as the Yunnan model for leveraging policy synergies, and the Heilongjiang model that is underpinned by full-process financial support.
By the end of 2017, the Bank had supported 182 key projects under financial poverty alleviation cooperation by policy financing with a total approved loan amount of nearly RMB17 billion.