(Yicai Global) Oct.8 -- China Development Bank, one of the country's policy banks, plans to issue CNY100 billion (about USD14.7 billion) of loans for elderly care services over the next five years.

The loans will be used to support 300 leading elderly care service providers and the development of senior care systems in 300 cities in a bid to cope with an aging population.

By the end of August, the lender had issued a total of CNY38.6 billion of loans to support senior care programs of 396 clients in 30 provincial-level regions.

The lender will continue to provide financial aid to such programs while strengthening risk control, it said.