Feb. 1, 2010 (China Knowledge) - The Jiangsu branch of Agricultural Bank of China yesterday signed a strategic cooperation framework with the Council of Agriculture of Jiangsu to jointly develop key agricultural industries in Jiangsu Province, sources reported.

According to the agreement, the bank will provide a three-year credit line of RMB 10 billion as well as financial services including fixed asset loans and liquid asset loans.

The Council of Agriculture will ascertain the needs of local enterprises and cooperative organizations and make recommendations to the bank once a half-year. Meanwhile, the bank will support clients that want to expand agricultural exports.

Zhu Hongbo, vice president of ABC, said that the cooperation will effectively accelerate the development of modern agriculture in Jiangsu.