Poverty alleviation of Agricultural Bank of China
Original, GPIG, 09-08-2016
According to the annual report of poverty reduction and development, in 2013,Agricultural Bank of China earnestly implemented the strategic deployment of the central government on poverty alleviation and development, fulfilled its social responsibility, steadily promoted financial poverty alleviation focusing on contiguous destitute areas and achieved remarkable results.
First, continued to increase credit support for two types of poverty-stricken counties. In 2013, Agricultural Bank of China issued a total of 535.76 billion yuan of loans for national and provincial key counties for poverty alleviation and development and the loan balance was 756.61 billion yuan at the end of that year, 111.11 billion yuan more than that at the beginning of that year, up 17.2%, 6.4 percentage points above the loan growth rate of the bank, effectively boosting the economic development of poor areas and increasing the income of poor people;
Second, mainly supported the economic and social development in contiguous destitute areas. In 2013, Agricultural Bank of China issued a total of 222.42 billion yuan of loans for 14 contiguous destitute areas nationwide. The loan balance was 386.37 billionyuan at the end of 2013, 6.94 billion yuan more than that at the beginning of that year, up 18.7%, 8 percentage points above the loan growth rate of the bank, boosting the economic development in contiguous destitute areas.
Third, continued to improve the inclusive financial systems in poor areas. Implemented the project of “Jinsui farmer-benefiting card” and provided inclusive financial services for the masses through farmer-benefiting card, transfer telephone and POS machines, etc. As of the end of 2013, a total of 582,000 farmer-benefiting service outlets had been set up, improving the basic financial services for poor areas.
On the basis of summing up the historical experience of financial poverty alleviation, Agricultural Bank of China changed the "blood transfusion" type poverty
alleviation as "blood-making" poverty alleviation. Relying on the regional development planning of poor areas, focusing on supporting local leading and featured industries, through promoting farmers to participate in the production of industry chain, Agricultural Bank of China strived to achieve sustainable financial poverty alleviation and make the program really benefit the poor.
First, focused on supporting 166 national poverty alleviation leading enterprises with a total of 23.29 billion yuan of credit limit and the loan balance amounted to 14.97 billion yuan, enabling 1.92 million poverty-stricken rural households to increase income by 2804 yuan per household.
Second, invested o 81.91 billion yuan of loans for the improvement of transport, electricity facilities and other infrastructure in impoverished regions throughout the year. At the end of 2013, the loan balance was 217.94 billion yuan.
Third, improved the industrial support system for poor areas, benefiting 11,808 SMEs of competitive industrial clusters in poor areas. A total of 250.31 billion yuan of loans was issued that year and the loan balance was 322.69 billion yuan at the end of 2013. This program promoted the industrial agglomeration, structural adjustment, transformation and upgrading in poor areas.
Fourth, reduced the gap in basic public services between poverty-stricken areas. Strengthened credit support and financial services for livelihood projects in poor areas. For example, we issued 5.31 billion yuan of loans to support the development of education and medical industry in impoverished regions. At the end of 2013, the loan balance amounted to 9.62 billion yuan, up 11.8% over the beginning of that year.
Promoted the sustained and stable growth of farmers’ loans. In 2013, Agricultural Bank of China issued a total of 125.96 billion yuan of loans for rural households in poor areas and the loan balance at the end of that year was 154.1 billion yuan, with an increase of 33.37 billion yuan than the amount at the beginning of that year, up 27.6%, 3.6 percentage points above the farmers’ loan growth rate of the bank. Focusing on promoting the development of microfinance for the poor and has issued a total of 364.93 billion yuan of petty loans (less than 50,000 yuan) for rural households since 2011, benefiting 3 million rural households. Among that, 104.928 billion yuan was issued in 2013.
Made innovations to the financial poverty reduction. Combining the financial strength of large banks and the channel advantages of microfinance institutions, we actively provided wholesale funds for poverty alleviation microfinance institutions to carry out poverty-relief microfinance business in poor areas. Setting a credit limit of 300 million yuan for China Foundation for Poverty Alleviation and issued 260 million yuan of loans for the Foundation to issue petty loans for the development of production of 170,000 rural households in poor areas; and issued loans to support the microfinance institutions such as Hebei Yixian Poverty Alleviation Society, Guizhou Xingren Poverty Alleviation Society and Qinghai Tongren Society, etc.
Original, GPIG, 09-08-2016
According to the annual report of poverty reduction and development, in 2013,Agricultural Bank of China earnestly implemented the strategic deployment of the central government on poverty alleviation and development, fulfilled its social responsibility, steadily promoted financial poverty alleviation focusing on contiguous destitute areas and achieved remarkable results.
First, continued to increase credit support for two types of poverty-stricken counties. In 2013, Agricultural Bank of China issued a total of 535.76 billion yuan of loans for national and provincial key counties for poverty alleviation and development and the loan balance was 756.61 billion yuan at the end of that year, 111.11 billion yuan more than that at the beginning of that year, up 17.2%, 6.4 percentage points above the loan growth rate of the bank, effectively boosting the economic development of poor areas and increasing the income of poor people;
Second, mainly supported the economic and social development in contiguous destitute areas. In 2013, Agricultural Bank of China issued a total of 222.42 billion yuan of loans for 14 contiguous destitute areas nationwide. The loan balance was 386.37 billionyuan at the end of 2013, 6.94 billion yuan more than that at the beginning of that year, up 18.7%, 8 percentage points above the loan growth rate of the bank, boosting the economic development in contiguous destitute areas.
Third, continued to improve the inclusive financial systems in poor areas. Implemented the project of “Jinsui farmer-benefiting card” and provided inclusive financial services for the masses through farmer-benefiting card, transfer telephone and POS machines, etc. As of the end of 2013, a total of 582,000 farmer-benefiting service outlets had been set up, improving the basic financial services for poor areas.
On the basis of summing up the historical experience of financial poverty alleviation, Agricultural Bank of China changed the "blood transfusion" type poverty
alleviation as "blood-making" poverty alleviation. Relying on the regional development planning of poor areas, focusing on supporting local leading and featured industries, through promoting farmers to participate in the production of industry chain, Agricultural Bank of China strived to achieve sustainable financial poverty alleviation and make the program really benefit the poor.
First, focused on supporting 166 national poverty alleviation leading enterprises with a total of 23.29 billion yuan of credit limit and the loan balance amounted to 14.97 billion yuan, enabling 1.92 million poverty-stricken rural households to increase income by 2804 yuan per household.
Second, invested o 81.91 billion yuan of loans for the improvement of transport, electricity facilities and other infrastructure in impoverished regions throughout the year. At the end of 2013, the loan balance was 217.94 billion yuan.
Third, improved the industrial support system for poor areas, benefiting 11,808 SMEs of competitive industrial clusters in poor areas. A total of 250.31 billion yuan of loans was issued that year and the loan balance was 322.69 billion yuan at the end of 2013. This program promoted the industrial agglomeration, structural adjustment, transformation and upgrading in poor areas.
Fourth, reduced the gap in basic public services between poverty-stricken areas. Strengthened credit support and financial services for livelihood projects in poor areas. For example, we issued 5.31 billion yuan of loans to support the development of education and medical industry in impoverished regions. At the end of 2013, the loan balance amounted to 9.62 billion yuan, up 11.8% over the beginning of that year.
Promoted the sustained and stable growth of farmers’ loans. In 2013, Agricultural Bank of China issued a total of 125.96 billion yuan of loans for rural households in poor areas and the loan balance at the end of that year was 154.1 billion yuan, with an increase of 33.37 billion yuan than the amount at the beginning of that year, up 27.6%, 3.6 percentage points above the farmers’ loan growth rate of the bank. Focusing on promoting the development of microfinance for the poor and has issued a total of 364.93 billion yuan of petty loans (less than 50,000 yuan) for rural households since 2011, benefiting 3 million rural households. Among that, 104.928 billion yuan was issued in 2013.
Made innovations to the financial poverty reduction. Combining the financial strength of large banks and the channel advantages of microfinance institutions, we actively provided wholesale funds for poverty alleviation microfinance institutions to carry out poverty-relief microfinance business in poor areas. Setting a credit limit of 300 million yuan for China Foundation for Poverty Alleviation and issued 260 million yuan of loans for the Foundation to issue petty loans for the development of production of 170,000 rural households in poor areas; and issued loans to support the microfinance institutions such as Hebei Yixian Poverty Alleviation Society, Guizhou Xingren Poverty Alleviation Society and Qinghai Tongren Society, etc.
