The first half of 2011 saw China Development Bank (CDB) raise affordable housing loans by $6.9 billion, Bloomberg reports. The increase is almost half the $14.09 billion rise from other Chinese banks during the six months. The lender provided $8.1 billion to fund housing projects for low-income earners, adds China Daily.
The bank intends to allocate $15.52 billion for construction of social housing, while the country seeks to build 10 million units of affordable homes in the current year. Loans for affordable housing projects are free from a lending crackdown.
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