Guizhou's cili agricultural project to apply for Israeli government loan

Guizhou's cili has high nutritional and economic value. [Photo/ddcpc website]

According to the waiting list for 2022-23 foreign government loans recently released by the National Development and Reform Commission and Ministry of Finance, Bijie's cili (the Chinese word for "chestnut rose") planting and processing project is on the application list for Israel's government loan.

The project will receive a total loan of $50 million, which is Guizhou's third loan with a preferential interest rate issued by the Israeli government, after Liupanshui's kiwi fruit project and Panzhou's soft-seed pomegranate project.

The project will be low-carbon and involve the entire cili industrial chain, including standardized planting, storage, fine processing, transportation and marketing.

It is expected to promote the integrated development of primary, secondary and tertiary industries, and help Guizhou consolidate the achievements of poverty alleviation and revitalize rural areas.

Israel's government loan has been offered since 1995 for projects involving clean and intelligent energy technology, efficient water conservation and water treatment, vocational education, modern agriculture, communications, and more.

The loan has three different lengths of maturity, namely 15 years, 10 years and seven years, each with a three-year grace period. At least 30 percent of the loan should be used to purchase products made in Israel.