I applied for the PlaNet Finance China (PFC) internship with an expectation of getting practical experience in the field of microfinance, gaining knowledge of the operation mechanism of Microfinance Institutions (MFIs) in China, and how to evaluate and research on the performance of MFIs as well. In conjunction with my internship, I was writing my thesis on implementing structured products in Microfinance, which was the motivation for me to gain a deep understanding of the Chinese market. This internship marked my first step towards a career in microfinance.
An interesting initiative adopted by our partner MFI, Association for Rural Development of Yilong (ARDY) written by PlaNet Finance China in-field intern Laura Silver. To see more related postings, check out our intern blog at http://pfcinternship.blog.com/
Earthquake survivor and entrepreneur from Beichuan County, Sichuan
By: Elaine Chou, PlaNet Finance Director of Administration & Finance
Beichuan County is located in northeast Sichuan up the mountains. Beichuan is a quiet rural area with its main economies being farming, animal husbandry, forestry, mining and producing handicrafts. Beichuan is mostly populated by the Qiang minority group and is the only county in China to be classified as an autonomous county, ruled by the Qiang people.
Liu Dongwen, director of the newly-formed CFPA microfinance company (the arm of the China Poverty Alleviation Fund that is specialized in microfinance) recently announced figures on the new company's business. Using RMB 160 million in funding, CFPA Microfinance now covers 26 poverty counties in 10 provinces. As of the end of September 2009, there were 33,873 active client households, with each household taking out loans with an average value of RMB4,723.
At the annual meeting of the China Microfinance Association, held in Beijing on the 27th and 28th of October 2009, several speakers were able to update the assembled members and other attendees on the number of county-level organizations that have to date been approved in China, theoretically potential deliverers of microfinance. Mr.
We are busy connecting with all the companies that would like to be associated with one of the most innovative rural development projects on the Chinese horizon. The European Commission has kindly agreed to finance the maximum of 75% of the necessary funding, leaving us with EUR235,000 to find. For information on the six important activity areas under this project in SE Gansu province, please contact Gabrielle Harris on gharris[at]mfchina.cn.
