The Asian Development Bank (ADB) signed a US$60m loan agreement to increase financing to small and medium-sized enterprises (SMEs) in China.
The agreement was signed between the ADB and Zhujiang Financial Leasing Company Limited to assist SMEs in central and western regions of China.
"SMEs are important drivers of inclusive growth of China's economy as they provide so many jobs, but a lack of finance is an impediment particularly in less developed regions," said Christopher Thieme, deputy director general of ADB's Private Sector Operations Department.
The ADB will also help the company to improve its safeguards and support the development of China's lease finance industry.
