Overview
The Rural Infrastructure Construction Loan refers to the loan applied to the rural infrastructure construction projects invested and constructed under the domination of the central and provincial-level finance, with full-amount principal and interest promised to be repaid by the public finance.
The term of the Rural Infrastructure Construction Loan is determined reasonably according to the total investment scale and financial fund preparation plans of projects, and is no more than 20 years (included) generally. The interest rate is subject to related regulations of the People's Bank of China and Agricultural Bank of China.
Features
Firstly, as for the purpose of loan, the fund is mainly applied to public projects in the rural areas related to national welfare and people's livelihood, such as water, electricity, road, gas, medical care and education. Secondly, there is no compulsory requirements on capital according to the spirit of "no execution of capital system for public benefit investment projects" in the Notification of the State Council on Tryout of Capital System for Fixed Assets Investment Projects (G.F. [1996] No. 35). Thirdly, the loan term can be extended properly according to the characteristics of rural infrastructure projects and financial investment, and shall not be over 20 years at the most. The abovementioned characteristics meet the general rules of the operation of funds for rural infrastructure construction, and have relatively powerful applicability in the field of rural infrastructure construction.
Procedures
1. Customers submit the application and related materials;
2. After the investigation and examination, ABC approves the application;
3. Customers sign the loan contract with ABC;
4. ABC handles the formalities for registration of mortgage and pledge;
5. ABC extends the loan in a lump sum or by installments according to the maximum amount and term regulated in contract;
6. Customers pay the principal and interest according to the regulated mode of repayment;
7. ABC handles the formalities for settlement of loan.
Application Channels
All ABC authorized and sub-authorized operating institutions can handle the business.
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