2009.05.11 Yilong County, ZhouHe Town. ZhouHe Town is located 53 kilometers away from the county. The town contains 13 villages, 69 communities, 3429 households, 12,000 people. ZhouHe is a typical agricultural town in the mountains. Association for Rural Development in Yilong constructed a branch in ZhouHe in March 1998 with 3 employees working there now. Their main goal is to carry out microcredit operation to help the poor and the lower-income households (especially women), while offering information services and developing business skills through training.
Over these eleven years, ZhouHe branch have given out 5315 loans that do not require mortgage and worth 12,872,900 Yuan. In addition, it has provided credit and related services to achieve coverage of more than 80%. Under our educational services, the borrowers are able to pay back part of their loans every 15 days. Our repayment rate is at 99.3%. The default loans total to an amount of 45.853 Yuan. By the end of 2008, ZhouHe branch obtained a self-financing rate of 162%. And, by April 2009, a loan portfolio of 1,601,862 Yuan, 751 loans, and a loan risk of 1.1%.
We promise to the communities that all borrowers are able to pay back their loans. Our commitment and tireless work has helped us gain credibility, the farmers’ trust, and their active participation. When the farmers are able to obtain loans and pay them back, they become very excited and have more confidence in production. 85% of the borrowers use these small loans to change their production and living environment, and nearly 30% of the farmer households are taking steps to move towards affluence.Farmer Xu Qilian was awarded the 2007 China Banking Association (Citigroup) second place award in rural micro-business for farming; Branch Director Lin Pingjin has been elected many times for the most outstanding employee by the China International Economic and Technical Exchange Center / United Nations Development Program; Director Lin received second place for the China Banking Association (Citigroup) micro--entrepreneurship award in 2006.