BEIJING - The Agricultural Bank of China (ABC), the country's fourth largest lender, said Wednesday it will increase the credit quota of its two branches in the Xinjiang Uygur autonomous region by three billion yuan ($468.75 million) this year.

The move aims to ensure that new loans extended by its Xinjiang branches this year will top the increase in loans of 2010, said Che Yingxin, chairman of the board of supervisors of ABC.

As the country's only large financial institution with two branches in Xinjiang, ABC has spent years dedicating itself to strengthening and improving its financial services in the country's westernmost region, Che said.

By the end of July, outstanding loans from the two branches totaled 57.42 billion yuan, while new yuan-denominated lending hit 21.78 billion yuan in the first half.

The Beijing-based lender plans to issue at least 200 billion yuan in loans over the next 10 years to help promote Xinjiang's leapfrog development.

Most of the 200-billion-yuan in loans will be used to finance the construction of infrastructure projects and support the development of a low-carbon economy, border trade and rural areas.

Che said the lender will continue to enhance risk management, strengthen core competitiveness and bolster its status as a backbone of the country's rural financial system.