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Chinese RDA Dedicated to Poverty Alleviation
The Agricultural Bank of China will grant loans in some poor Chinese counties starting next year, according to discussion between the bank and China's Rural Development Association (RDA).
This was announced at the second China Community Corps (CCC) Conference, hosted by China International Center for Economic and Technical Exchanges (CICETE) in collaboration with the United Nations Development Program (UNDP), which closed Thursday.
Rural Development Association is a number of entities established in China's rural areas to implement the 12 poverty alleviation projects funded by the United Nations Development Program (UNDP) since 1993. Rural Development Association and its community corps have played a major role in helping poor rural families in China obtain better standards of living.
Participants at the four-day conference were from the 48 poor counties that have benefited from the UNDP projects.
They all agreed that Chinese RDAs should seek sustainable self development into professional institutions that assume full responsibilities for their own profits and losses, so as to address the long-term issue of poverty alleviation.
An official from CICETE said RDA has gained support from the State Council as well as China's central bank, who have authorized RDA to continue granting microfinance to the 48 poverty-stricken counties, using the revolving funds provided by UNDP.
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