Citigroup Foundation
approved US$ 1.3 million for Grameen Trust (GT)
and Grameen Foundation USA (GF-USA) in August
2001, to promote increased access to microcredit as well as to
provide training and technical assistance to microfinance organisations
in China.
Under this grant, GT
has been able to expand microcredit operations in China through
its partners in the following counties and provinces: Laishui
County, Hebei Province, Xingzhi County, Jiangxi Province, Songshan
County, Chifeng, Inner Mongolia, Yilong County, Sichuan Province,
Jin Tang County, Sichuan Province and Xingren County of Guizhou
Province.
Between April-June
2004, Grameen Trust has approved an additional
three microfinance projects to be implemented by China
Foundation for Poverty Alleviation (CFPA), Ziyun
Rural Development Association (ZYRDA) and Association
for Rural Development (ARDTC).
CFPA already has a
very large microfinance program reaching 247,820 borrowers in
seven provinces. With US$ 50,000 from GT, CFPA will reach 1,330
borrowers in Guizhao province, where large proportions of the
population are minorities, by 2006.
ZYRDA, is also implementing
a smaller microcredit program which currently reaches 1,309 borrowers
in Ziyun County of Guizhou Province which has been supported by
UNDP in the past. Grameen Trust has approved a total of US$ 50,000
to ZYRDA to expand its program to reach 750 new borrowers by 2006.
The third organisation,
ARDTC is implementing a microcredit program in Tongwei County
of Gansu province. The program reaches 1,065 members, and has
previously received support from UNFPA. ARDTC, with US$ 50,000
from Grameen Trust, plans to reach 750 poor borrowers with microcredit
by the year 2006.
Representatives from
all three organisations attended the Grameen Basics Training
organised in May 2004 by Grameen Trust in China.
Professor Latifee, Managing Director, Grameen Trust and Alomgir
Hossain, Deputy General Manager, Grameen Trust made pre launch
visit to the field sites and/or the offices of these projects.
Apart from the above
three projects, the collective efforts of MRL-GB, ARDY, ARDPAS,
CZWSDA, XRDA and FPC resulted in a total outreach of 22,350 members
with a cumulative disbursement of US$20,014,535 and a repayment
rate of 98%.
Due to Citigroup Foundation’s
support to Grameen Trust, the microfinance initiatives in China
are steadily progressing . Grameen Trust expects to allocate the
remaining funds under the grant.
