China Eximbank waives loan interest charges for small businesses hit hard by virus

The Export-Import Bank of China (China Eximbank) announced Friday that medium-sized, small, micro enterprises of wholesale, retail, logistics and transportation sectors in Hubei Province and those hit hard by the virus will be exempt from loan interest charges in February.

The decision is a step to secure financial support for epidemic prevention and control work and help mitigate the impact on the enterprises from the epidemic, according to a statement from the bank.

Loans of about 160 billion yuan (about 23 billion U.S. dollars) were involved in the move, and interest charges of about 600 million yuan were waived.

The bank will study measures to further alleviate the financial burden on the enterprises based on their needs, said the statement.

The China Eximbank is a state-funded and state-owned policy bank dedicated to supporting China's foreign trade, investment and international economic cooperation.