|
Micro-finance poverty reduction project
2003-07-24
Micro-finance poverty reduction project
In February 2000, China Foundation for Poverty Alleviation (CFPA) signed an agreement with Huaxia Bank to jointly develop Farmers' self-independence capacity building project. The initial investment reached 5 million Yuan, of which, Huaxia Bank provided 2 million Yuan interest-free funds, and the counterpart fund by Guizhou Province is 2 million Yuan. At present, 4 million Yuan has been extended to pilot Qinglong County in Guizhou Province, Huaxia Bank is assigned by the central government to help reduce poverty in the county. CFPA is in charge of project design and management.
In September, CFPA signed agreement with Foreign Capital Project Management Center of the State Council's Poverty Alleviation Office (FCPMC) and China West Human Resources Development Center (CWHRDC), to take over the micro finance project financed by World Bank in Ankang City in Shaanxi Province and Langzhong City in Sichuan Province managed by FCPMC and CWHRDC.
In October, CFPA signed contract of developing the project of Capacity building - micro finance with local governments as below: Ankang City in Shaanxi Province, Langzhong City and Tongjiang City in Sichuan Province, Donglan County in Guangxi Autonomous Region, Kaixian County in Chongqing Municipality, and Hezhang County in Guizhou Province.
At the end of 2000, CFPA launched the farmers' self-independence capacity building (micro-finance) project in 5 counties, with total investment amounting to RMB 20.82 million. 679 centers and 4170 groups have been set up and a total amount of RMB 26.97 million Yuan of loans has been delivered to 22611 poor project households, and repayment rate was over 95%. (See the Table below for detail.)
The project not only helped the poor to increase their income, but also upgraded their abilities of technology, management, operation and social relations. The project aims to change their income level and unhealthy mentality through constant project success, therefore, a human group with new overall qualities and abilities will be created, and the poverty would be eradicated radically.
|
.gif){kind=small}
.gif){kind=small}
