Bringing banking to rural China
Nearly 500 million people across rural China are not served by traditional banking systems nor non-bank institutions. By bringing these individuals into the formal financial sector we have the ability to have considerable positive impact on their, and their families, lives. CFPA engages in the management and development of microfinance for poverty alleviation applications. It offers microfinance services to poverty-stricken populations in rural areas. Chinese farmers who take out agricultural loads with CFPA can see productivity on their farms rise more than 75%. Given that the vast majority of CFPAs customers come from China’s poorest communities, the impact of these micro loans can be transformative.
380,000 active customers in 91,000 villages across China were served by CD Finance
258 CD Finance branches in 21 provinces in China—70% of which were in state and provincial poverty-stricken counties