China Association of Microfinance (CAM), a Chinese network of 92 microfinance institutions (MFIs); China International Center for Economic and Technical Exchanges, a Chinese agency that promotes economic and technical exchange; Peking University Advanced Financial Information Research Center (PAFIRC), a China-based research institute; and CreditEase Microcredit Investment, a Beijing-based financial services firm, recently launched the Inclusive Finance Wholesale Fund I, which is billed as the first microfinance wholesale fund in China. The fund aims to ease financing issues faced by nonprofit microfinance institutions (MFIs) in China, expand their operational capacity for sustainable development and attract social capital to the sector.
The fund plans to mobilize CNY 30 million (USD 4.76 million) with RMB 5 million (USD 793,000) having been provided by CreditEase Microcredit Investment as seed capital.
By Kristha Abores, Research Associate
About China Association of Microfinance:
China Association of Microfinance (CAM) is network of 92 domestic microfinance institutions (MFIs), organizations and individuals that aim to
help develop a sustainable Chinese microfinance sector. The organization’s functions include policy coordination, fund-raising services, technical and training support, as well as international trade and cooperation, since many existing MFIs in China lack legal recognition.
CreditEase, headquartered in Beijing, China, is a lending, consulting and professional services firm. With social responsibility in mind, CreditEase offers credit counseling and assessment, credit program development, protocol management, cash management and credit management services. Financial data on CreditEase is unavailable on the English language section of the company website.
Sources and Additional Resources:
MicroCapital.org article, February 23, 2012, “MICROCAPITAL BRIEF: BNP Paribas China Enters Microfinance With $2.3m Loan to MicroCred Nanchong,”http://www.microcapital.org/microcapital-brief-bnp-paribas-china-enters-…
MicroCapital.org article, February 22, 2012, “MICROCAPITAL BRIEF: Number of Microfinance Institutions in China Hits 4,282,”http://www.microcapital.org/microcapital-brief-number-of-microfinance-in…
MicroCapital.org article, January 24, 2012, “MICROCAPITAL BRIEF: Microfinance Institutions in China Report $58b in Outstanding Loans,”http://www.microcapital.org/microcapital-brief-microfinance-institutions…
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