The Asian Development Bank (ADB) has signed a $50 million loan facility with CFPA Microfinance Management to support approximately 130,000 microentrepreneurs in rural areas of the People’s Republic of China (PRC), which will boost income levels and employment.
The ADB loan will be used for onlending to sub-borrowers in counties designated by central and local governments as poverty-stricken areas. The long-tenor ADB loan will revolve and is expected to fund subloans amounting to over $200 million. The loan is ADB’s first non-sovereign loan in microfinance in the PRC.
For more on this story visit the following link: ADB, CFPA Sign $50 Million to Boost Support for Microfinance in PRC
Source: Asian Development Bank