Grameen and Alibaba to combine efforts in China mi

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This move represents significant potential for microfinance in China. ?Grameen and Alibaba plan to begin operations in Sichuan and Inner Mongolia with initial funding of $5 million and plans to make loans to 8,christian louboutin,000 low-income entrepreneurs in the region through micro-loans as small as USD $400. This will be the first time that Grameen Trust will directly implement a microcredit program in China
Jack Ma,Christian Louboutin, founder,moncler jackets, chairman and chief executive of Alibaba,Louis Vuitton Handbags, was quoted on the initatitive: "Micro-credit is the oxygen to make entrepreneurial dreams come alive. We are very pleased to join with Grameen Trust in this effort to create employment opportunities in these areas by helping tens of millions more small entrepreneurs create their businesses. We also welcome contribution from others and hope to build more partnerships in China."
This is an exciting development for Wokai,chi flat iron, as it represents the potential opportunity to partner with model institutions involved with this Grameen Bank initiative.

This week Grameen Trust?announced it was increasing its presence in China through a joint venture between Grameen China and the Alibaba Group, the Chinese business-to-business online marketplace. ?The news was released at the Clinton Global Initiative conference in New York this week,Men moncler jackets, and received coverage by the New York Times in an?article noting the growing trend of philanthropy in China among wealthy citizens and government officials.

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