Our Domestic Work

Microfinance Project

Background:

CFPA Micro Finance dates back to 1996 as a pilot program launched by the The State Council Leading Group of Poverty Alleviation and Development. In 2001 China Foundation for Poverty Alleviation (CFPA) was made responsible for the program and in 2008 the program was spun off as CFPA Micro Finance, an independent CFPA affiliated sister organization.


Overview:

Backed by the Agricultural Bank of China, CFPA Micro Finance was established with a mandate to disburse loans targeted at China's rural poor for social development and poverty alleviation. CFPA Microfinance loans are uncollateralized each averaging 10,000 RMB (1,500 USD) and are delivered as cash in villages where infrastructure is underdeveloped. Our clients are the rural poor with no access to conventional bank credit. We engage in responsible lending by assessing each applicants' suitability in their best interest to prevent bad loans and over indebtedness.


Results:

As of 2016 CFPA Micro Finance is active in 18 Provinces and 182 government classified impoverished counties. We have disbursed 3.6bn RMB (537.6m USD) to 3.45m individuals with a successful repayment rate of 99.8%.