ADB, Bank of Tianjin Sign Loan to Support Health Care and Elderly Care Development in the PRC

The Asian Development Bank (ADB) and the Bank of Tianjin Co., Ltd (BOT) signed a $50 million (in yuan equivalent) loan agreement for health care and elderly care finance in Tianjin and other cities where BOT operates in the People’s Republic of China (PRC).

The project will support health care and elderly care service providers by funding their capital investments in facilities, equipment, and IT systems, and meeting their permanent working capital needs. It will also promote financial innovation through knowledge-sharing and expand inclusive health care for women and elderly care financial services through a targeted action plan.

“Addressing the growing demand for quality health care and elderly care services is critical as the PRC undergoes rapid demographic transition,” said ADB Country Director for the PRC Asif Cheema. “Working with BOT as a finance and knowledge partner, the project aims to address this market gap by combining funding with capacity building through ADB’s strong collaboration with finance and health sector groups under its Strategy 2030.”

The PRC is facing rapid population aging, with the elderly becoming increasingly vulnerable to chronic illnesses and communicable diseases. The issue is particularly complex in Tianjin, where more than a quarter of the population was aged over 60 at the end of 2023. As the population ages and lifestyles become less active, chronic and serious diseases become more common, raising pressure on the health care system.

Tianjin’s role as an established port city with long-standing international trade links heightens risks to imported communicable diseases and pandemics. Limited access to financing also constrains health care and elderly care providers across the country. Addressing these challenges requires greater investment in health care and elderly care systems and stronger digital financial services. Local banks, including city and rural commercial banks, are well positioned to provide support.

This is ADB’s first private sector loan to a commercial bank for health care and elderly care finance; and BOT’s first long-term borrowing from an international financial institution. BOT will also mobilize $25 million (in yuan equivalent) from its own resources to complement the ADB financing. The project will help diversify BOT’s funding sources and help improve access to digital finance for borrowers. Through support from ADB’s knowledge work, more health care and elderly care facilities will be enrolled in BOT’s digital financial services; and retail digital banking services will be expanded to cover more customers, including women.

BOT, listed on the Hong Kong Stock Exchange in 2016, is a city commercial bank (CCB) headquartered in Tianjin. As a leading regional bank, BOT provides a comprehensive range of banking and related financial services. It primarily operates through 157 branches in Tianjin and 73 branches in Beijing, Hebei, Shandong, Shanghai, and Sichuan, with more than 6,600 staff, which is aligned with the bank’s strategy to support the Beijing–Tianjin–Hebei integrated economic region and promote sustainable finance. In 2022, it became the first CCB supporting the Task Force on Climate-Related Financial Disclosures (TCFD) in the country.

ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—50 from the region.