Exclusive: China’s Largest Policy Bank to Fund Most of $45 Billion Infrastructure Stimulus

The China Development Bank (CDB), the country’s largest policy lender by assets, will fund the majority of Beijing’s latest 300 billion yuan ($45 billion) infrastructure stimulus, sources with knowledge of the matter told Caixin.

The CDB and the Agricultural Development Bank of China (ADBC), the second-largest policy lender, will raise 210 billion yuan and 90 billion yuan, respectively, before the end of next year, the sources said.