China Development Bank Agrees to Provide the China Foundation of Poverty Alleviation USD 12.8 mn in Funding for a Microcredit Scheme in China’s Rural Areas

The China Development Bank (CDB) ended 2006 with an agreement to provide 100 mn yuan (equivalent to approximately USD 12.8 mn) in loans to the China Foundation for Poverty Alleviation (CFPA), a Chinese nongovernmental organization established in 1989. The CFPA plans to use the money to enlarge its microcredit program in the poverty-stricken Chinese countryside.

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