The State Administration for Financial Regulation has issued a document on improving financial services for flood prevention, disaster relief, and post disaster reconstruction | Finance | Disaster Relief
In order to efficiently assist in flood prevention, disaster relief, and post disaster recovery and reconstruction work, assist disaster affected people and enterprises in restoring production and life as soon as possible, and increase financial support for post disaster reconstruction, the State Administration of Financial Supervision recently issued a notice on doing a good job in flood prevention, disaster relief, and post disaster reconstruction financial services.
The Notice focuses on the task objectives of financial support for flood prevention, disaster relief, and post disaster recovery and reconstruction, and proposes work requirements from improving ideological awareness, actively playing the role of bank and insurance funds, strengthening credit support for key targets, and ensuring smooth financial basic services.
We will closely focus on the needs of the affected people and enterprises, provide timely and warm financial services, and minimize the impact of floods on economic and social development and people's lives.
——Banks and insurance institutions should do a good job in organizing and mobilizing disaster response, activate disaster preparedness emergency plans, ensure the security of financial assets and important data, and ensure the stable operation of basic financial services and critical infrastructure. We should adopt differentiated support policies reasonably, improve the efficiency and targeting of financial services, timely assess the disaster situation of ongoing projects and credit enterprises, proactively contact affected customers, and provide accurate services.
——Banking institutions should strengthen credit support for key areas such as small and micro enterprises, individual businesses, agriculture, rural areas, and transportation, communication, gas and electricity, agricultural water conservancy, flood control and flood prevention, which are closely related to people's livelihoods. They should also provide financial services to individual customers. Encourage banking institutions to develop special disaster relief credit products for small and micro enterprises, individual businesses, agricultural and breeding enterprises, farmers, and new agricultural operators in disaster stricken areas.
——Encourage insurance funds to actively participate in post disaster recovery and reconstruction, and support insurance institutions to actively connect with the funding needs of business entities in disaster stricken areas for post disaster reconstruction, production recovery, and other aspects. Guide insurance funds to provide long-term financial support for major projects such as water conservancy, infrastructure, and public services through insurance asset management products, private equity investment funds, and other means.
——The regulatory authorities in disaster stricken areas should strengthen organization and coordination, enhance communication and cooperation with relevant departments, actively cooperate with local governments to do a good job in flood prevention and rescue work, guide banking and insurance institutions within their jurisdiction to strictly implement their main responsibilities, improve emergency plans, and coordinate flood prevention and disaster relief and support for post disaster reconstruction work.