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Danone Micro-credit Fund established
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15:48, May 13, 2009

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The Danone Micro-credit Fund, jointly established by the State Council Leading Group Office of Poverty Alleviation and Development, Groupe Danone of France and Grameen Trust of Bangladesh was formally launched recently in Beijing.

The Danone Micro-credit Fund is designed to provide small sums of credit to poor farming households in the impoverished areas of China, in particular the earthquake-hit areas of Sichuan Province, to help them carry out production in order to alleviate poverty and have a better lifestyle.

The three cooperative parties have entrusted the China Foundation for Poverty Alleviation to be the agency to implement this project. Groupe Danone funded the project with a total of 20 million yuan, and six counties (county-level cities) including the disaster regions of Shifang and Mianzhu cities in the extreme and heavily earthquake-hit areas of Sichuan Province, have been selected as the pilot counties for the project. The other four pilot counties outside the quake-stricken areas are Kulun Qi of Inner Mongolia, Wuyi County, Wanquan County and Pingquan County of Hebei Province.

By People's Daily Online



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