The People's Bank of China (PBOC), the central bank, announced yesterday that
it would provide another 1.5 billion yuan (US$215.5 million) in reloans for
financial institutions in Shaanxi, Chongqing and Yunnan that were hit by the
deadly quake on May 12.
This move is to help local commercial banks and rural cooperatives in those
areas to increase their liquidity and ability to support disaster relief and
reconstruction, said the PBOC on its website.
The central bank last week provided 5.5 billion yuan in reloans to the
hardest-hit provinces of Sichuan and Gansu.
The central government treasury system was functioning smoothly and 7.1
billion yuan in disaster relief funds had been appropriated from the central
government treasury system to quake-hit areas between May 13 and 21, said the
PBOC.