Microfinance in Poverty-Stricken Counties (ADB-49432-001)

Countries
  • China
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 17, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
CFPA Microfinance Management
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Aug 9, 2017

Disclosed by Bank Apr 1, 2016


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Project Description
ADB will provide a senior secured loan of up to $50 million (or CNY equivalent) with a 3-year tenor to CFPA Microfinance Management (CFPAMM) in the PRC. The proposed loan will fund CFPAMM's microfinance operations in counties designated by central and local government as poverty stricken areas. The sub-loans will be primarily used for agricultural and farming purposes, and may also be used to support individual microbusinesses in trade, manufacturing, and services as well as other rural economic activities. The proposed loan will benefit women, as CFPAMM specifically targets women in rural areas as its core customers and currently women represent 94% of CFPAMM's borrowers. It will promote gender equity by improving rural women's access to finance through 121,000 collateral free microloans to women borrowers.
Investment Description
  • Asian Development Bank (ADB)
Contact Information
ACCOUNTABILITY MECHANISM OF ADB The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main