Grameen Foundation : Where we work : East Asia : China : Chifeng Zhaowuda
Chifeng Zhaowuda
| Status snapshot as of March 2008 | |
| Active clients | 2,945 |
| Loan portfolio (USD) | $1,024,472 |
| Portfolio At Risk >30 days* | 0.1% |
| * Value of all loans outstanding that have one or more installments past due more than 30 days | |
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Located in Inner Mongolia in northern China, Chifeng Zhaowuda began distributing loans in January 1999 under a UNDP project. In 2001, it was selected as one of the four Sustainable Microfinance Association Programs (SMAP) of UNDP, a distinctive honor which also provided extensive training for three years. Currently Chifeng Zhaowuda is considered one of the strongest microfinance programs in China based on performance, management, and government support.
Chifeng offers a variety of loans only to women whose household assets are below 10,000 RMB (about 1250 USD). Approximately 70% of the portfolio is disbursed in remote rural areas of Inner Mongolia. The remaining 30% focuses on laid-off women in the urban area of Chifeng. For the urban loans, the client does not need to form a group, yet has to find a guarantor registered with the government to guarantee for them.
Outreach:
Chifeng serves 2,42 poor women. The average annual income of women in Chifeng is less than 600RMB (USD 75) in rural area or 1,000RMB (USD 125) in pastoral area.
Grameen Foundation support:
Grameen Foundation is committed to helping Chifeng Zhaowuda realize its potential. We are supporting the automation of their management information systems and preparing them to become ready for commercial investments by supporting training, audits, and ratings. In 2007, GF provided $220,000 to support Chifeng Zhaowuda's expansion.
Grameen Foundation : Where we work : East Asia : China : Chifeng Zhaowuda
Grameen Foundation uses microfinance and innovative technology to fight global poverty and bring opportunities to the world's poorest people. With tiny loans and financial services, we help the poor, mostly women, start businesses and escape poverty. Our global network of 55 microfinance institution (MFI) partners including our Growth Guarantee partners has touched more than 34 million people in 24 countries. In addition, we introduced and now sustain technology initiatives (Mifos and Village Phone) in Cameroon, Kenya, Rwanda, and Uganda, bringing our total country outreach to 28.
+1-202-628-3560 www.grameenfoundation.org
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