China Construction Bank (CCB) has agreed to issue 100 billion yuan (about 12 billion U.S. dollars) in loans for southwest China's Guangxi for development of infrastructure, small enterprises, the bank announced on Thursday.

About 90 billion yuan (11.25 billion U.S dollars) of financial support from the bank will be injected into the construction of electricity, transport, petro-chemical and education projects in Guangxi Zhuang Autonomous Region.

And 10 billion yuan (1.25 billion U.S. dollars) will be used for local small and medium-sized enterprises, local economic development at county level and unique industries, according to an agreement signed between CCB and the regional government.

A CCB spokesman said the cooperation with Guangxi is of great significance to jointly promoting the sustained development of local economy and finance.

Source: Xinhua