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The Agricultural Development Bank of China (ADBC) held the work meeting on securing a decisive victory in poverty alleviation on Mar 17, 2020 to arrange the relevant tasks. Representatives from all the branches and sub-branches at provincial, municipal and county levels joined the video conference.

The meeting pointed out that in 2019 ADBC achieved remarkable results in fully promoting poverty alleviation by adhering to the target of being the vanguard of financial poverty alleviation, tackling the deep poverty, supporting the striking problems of “two no-worries” and “three guarantees”, completing targeted poverty alleviation on a high standard, paying great attention to basic management and risk control and improving mechanism and system of targeted poverty alleviation continuously. ADBC granted loans amounting to 404.5 billion RMB (15.2 billion RMB more than last year)  for poverty alleviation and completed the credit extension plan a quarter ahead of the year’s schedule. ADBC achieved outperformance in terms of the credit growth plan in deep poverty areas, the loans extension to industrial poverty alleviation, loans extension to “three guarantees”, and the assessment indicators set for the targeted poor areas at the beginning of the year.

The meeting stressed that 2020 is the year of the completion of China’s poverty alleviation tasks. ADBC needs to play an exemplary role in policy-oriented fiance with the most resolute manner and the strongest measures. In addition, ADBC needs to concentrate on the existing poverty, pool all strength to eliminate the absolute poverty, overcome the impact of COVID-19 to fully support the key areas and weak links of targeted poverty alleviation, improve the assistance measures to complete the tasks of poverty alleviation in targeted poor areas in all respects, promote the high quality development of policy-oriented finance with more measures simultaneously, and strengthen the organization’s functions to fulfill all the tasks of targeted poverty alleviation. In 2020, ADBC needs to work hard to realize loans extension of 280 billion RMB to poverty alleviation, with 50% portfolio to industrial poverty alleviation, complete the task of special loans extension to the remaining poor counties and regions in deep poverty ethnic areas and make more contributions to win the battle against poverty.