BEIJING — The Agricultural Development Bank of China (ADBC), the country's only rural policy bank, has approved emergency loans worth 10.07 billion yuan (about $1.44 billion) amid the novel coronavirus pneumonia (NCP) outbreak.

The move aims to finance enterprises in manufacturing and purchasing of NCP prevention and control supplies, as well as anti-epidemic materials including grain, cotton, and oil, according to the ADBC.

As of 7 pm on Feb 7, the bank's 28 branches had approved anti-epidemic emergency loans for 190 enterprises, granting loans of 5.59 billion yuan.

The loans will fully support enterprises in purchasing masks and protective equipment, as well as ensuring market supplies.

Support will also be offered to the operation and maintenance of Huoshenshan Hospital and Leishenshan Hospital in the city of Wuhan, the epicenter of the epidemic, according to the ADBC.

Chinese health authorities said on Feb 8 that 3,399 new confirmed cases of novel coronavirus infection and 86 deaths were reported on Feb 7.