CRCB to grant RMB 20 bln loan to migrant laborers by 2011

Chongqing Rural Commercial Bank (CRCB) will grant RMB 20 billion loan to migrant laborers from 2009 to 2011, in a bid to help them start their own businesses in their hometowns, sources reported.

The RMB 20 billion loan is also expected to support those enterprises and relevant industries that provide jobs to migrant laborers over the next three years.

Liu Jianzhong, board chairman of the bank, said the loan will focus on labor-intensive industry, agricultural byproduct processing and services industry.

Liu added the bank will further expand the guarantee patterns, including durable commodity, registered trade mark, forest ownership and properties.