Today China Daily published an article about the story of chineese villagers in Sichuan trying to rebuilt their lives from scratch in the aftermath of the terrible hearthquake that hit their province on May 12, 2008 thanks to the Grameen-CPAD-Danone Micro-Credit Initiative.
“Based in France, Danone, one of the biggest food and beverage producers in the world, has been devoted to poverty relief in rural areas of China. On July 30, 2008, Danone, Grameen Trust (a sister agency of Grameen bank) and CPAD signed a cooperative memorandum to set up the Grameen-CPAD-Danone Micro-Credit Initiative with a donation of 20 million yuan from Danone to assist the quake zone in its reconstruction […]
Three years after the initiative’s launching, it is expected to provide loans totaling 168 million yuan for 24,000 farmers each year. In the long run, the initiative will be spread to more poor regions.”
Read full article by Zhang Shining and Huang Zhiling.