(Bloomberg) -- China’s government is hoping banks will provide as much as 1 trillion yuan ($148 billion) of loans to help developers complete stalled property projects, the Financial Times reported, citing people involved in the discussions.

The People’s Bank of China will initially issue about 200 billion yuan of low-interest loans, charging about 1.75% a year, to state commercial banks, according to the FT report.

Authorities hope that banks will leverage this by up to five times to raise a total of about 1 trillion yuan, the FT said. Still, bank executives and analysts have warned that the PBOC may struggle to raise its targeted amount given the difficulties banks face making a return on distressed real estate projects, the newspaper added.

Real estate shares and bonds rallied on Monday after REDD reported that China’s State Council has approved a plan to set up a fund to support developers. Bloomberg News first reported some aspects of the plan last week.

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