Date
25 April 2018

Xiamen to pilot farmer mortgage loans, paper says

Xiamen is planning to pilot a program to allow farmers to apply for bank loans using their house as security, National Business Daily reported Friday, citing a draft proposal by the local government. Farmers holding collective land use certificates and property ownership certificates are eligible for the scheme. In case of default, the government will compensate banks 50 percent of their actual losses, the report said.

– Contact HKEJ at [email protected]

KZ/AC/RA

 

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