Bank of China has signed an agreement to provide the central province of Hubei with Rmb300bn in loans for construction. The loans are to be used to support projects in urban infrastructure, transportation, electricity, iron and steel, automobiles and other industrial and agricultural projects. The bank also agreed to provide the state-owned China Three Gorges Project Corporation with up to Rmb50bn to finance the Hubei-based company’s ‘going global’ strategy.

Also in March, BOC signed an agreement with Sichuan province to provide areas hit by last May’s earthquake, with at least Rmb300bn in loans for reconstruction over the next five years.