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Asian Development Bank, Guangzhou Rural Commercial Bank unit sign agreement

Asian Development Bank and Zhujiang Financial Leasing Co. Ltd. signed a cooperation agreement to provide financing services to small and midsize enterprises and poverty alleviation measures in China's central and western regions.

The Manila-based policy lender will also provide a US$60 million loan to Zhujiang Financial Leasing toward developing SMEs in sectors such as tourism, medical care and education in those regions, according to a Dec. 18 release.

Zhujiang Financial Leasing is a wholly owned unit of Guangzhou Rural Commercial Bank Co. Ltd.