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BEIJING - China's central bank said Wednesday it will provide 10 billion yuan ($1.52 billion) of new loans to financial institutions in provinces severely hit by drought.
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The PBOC will allocate the loans to eight provinces, including Shandong, Henan, Hebei, Shanxi, Anhui, Jiangsu, Shaanxi and Gansu, where a severely drought has persisted since last October, the statement said.