Inner Mongolia Allocates Over 120 Million Yuan for Flood Control and Disaster Relief

As continuous heavy rainfall battered parts of Inner Mongolia since late July, the region's financial institutions have sprang into action, providing over 120 million yuan in flood control and disaster relief funds to support affected businesses and residents. The Inner Mongolia Autonomous Region Branch of the People's Bank of China issued a notice on July 28, outlining 12 work measures to increase credit supply, expand funding sources, and ensure smooth financial services. Since then, financial institutions in Inner Mongolia have worked together, surveying over 11,000 affected businesses and farmers, identifying 300 million yuan in loan needs.

Key Takeaways:

• The Inner Mongolia Autonomous Region Branch of the People's Bank of China allocated over 120 million yuan in flood control and disaster relief funds since late July.
• Financial institutions in Inner Mongolia have surveyed approximately 11,000 affected businesses and farmers, identifying approximately 300 million yuan in loan needs.
• The Inner Mongolia Branch of the Bank of China has launched a 24/7 loan response channel, providing on-site assistance and efficiently resolving issues related to loan document review and approval.
• The Inner Mongolia Rural Commercial Bank has waived relevant financial service fees for severely affected farmers and herders, reducing financing costs.
• Over 1,000 agricultural and pastoral entities have received loans totaling more than 75 million yuan, with financial institutions handling loan extensions, principal-free loan renewals, and new loans totaling more than 35 million yuan.
• Financial institutions under the jurisdiction of the Inner Mongolia Autonomous Region Branch of the People's Bank of China have actively reduced the repayment burden for affected entities by lowering the weighted average interest rate of loans issued through new loans and adjustments to repayment plans.

Statistics:

• Over 120 million yuan in flood control and disaster relief funds have been allocated since late July.
• Approximately 11,000 affected businesses and farmers have been surveyed, identifying 300 million yuan in loan needs.
• Over 1,000 agricultural and pastoral entities have received loans totaling more than 75 million yuan.
• Financial institutions have handled loan extensions, principal-free loan renewals, and new loans totaling more than 35 million yuan.
• The weighted average interest rate of loans issued through new loans and adjustments to repayment plans has been lowered by 20-40BP compared with the past.

Sources:

• The Inner Mongolia Autonomous Region Branch of the People's Bank of China
• https://www.nmg.gov.cn/zwyw/jrgz/202508/t20250816_2775077.html