Qilu Bank backs measures to boost rural revitalization

To develop agricultural finance, the Yantai branch of Qilu Bank is making efforts to support the development of local emerging agricultural entities and promote the marketing of farmers' cooperatives. It is taking the lead in serving agricultural enterprises, family farms, large-scale farming and breeding households and micro-enterprises.

In key counties under the framework of rural revitalization, the branch has extended financial services to every corner through four branch offices and 12 rural revitalization service stations.

Through cooperation with Shandong Agricultural Development Credit Guarantee and Yantai Financing Guarantee Group, the branch has developed the "Ludandai" service model. Starting with signature industries, family farms, handicraft workshops, rural workshops, and new rural economic entities, it is striving to construct rural credit systems to cover those entities.

In March, the Laizhou branch of the bank negotiated with the local Zhuwang village rapeseed planting demonstration base and reached cooperation intentions for financial support to carry out rural tourism projects. This includes small-amount loans for about 20 agricultural households and nearly 26.7 hectares of rapeseed fields. The loans will be used for the purchase of seedlings, agricultural products and the construction of tourist accommodations.

As of now, the Yantai branch of Qilu Bank has served 82 new-type agricultural entities, providing a loan amount of 57 million yuan ($7.89 million) in total. Additionally, the branch is providing online agricultural household loan products and carrying out online business acceptance. Such efforts are not only improving the efficiency of financial services but also expanding the financing channels for rural revitalization.

In the future, the branch will continue to adhere to the development strategy of serving agriculture, rural areas and micro-enterprises with inclusive financial tools. Through such tools, the branch pledges to promote rural revitalization and contribute even more to the construction of beautiful and prosperous rural areas.