ACCION Launches Microfinance Operations in Inner Mongolia

ACCION International has inaugurated ACCION Microcredit China (AMC) in Chifeng Prefecture, Inner Mongolia, to deliver financial services to the region’s working poor. AMC officially opened its doors in early December 2009, and is already making microloans to local entrepreneurs. ACCION Microcredit China is the first foreign-funded microcredit company in Inner Mongolia, and the second foreign-funded microcredit company in China. It is also the first MFI in which ACCION has taken a majority share.

AMC has been established to test and adapt ACCION’s expertise in individual lending methodologies to the unique needs of Chinese microentrepreneurs. Over the next five years, ACCION Microcredit China is expected to provide working-capital and fixed-asset loans to urban and rural, small and medium-sized enterprises in Chifeng.

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