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Poverty relief through financial assistance in Qinhan

(chinadaily.com.cn) 2018-07-30 Print Mail Share

Since last year, Qinhan New City, Xixian New Area, Northwest China's Shaanxi province has been offering financial assistance to impoverished people.

A risk compensation fund of 360,000 yuan ($53,600) for poverty alleviation loans has been launched. Agreements have been signed with the Xi'an branch of the Postal Savings Bank of China and Shaanxi Weicheng Rural Commercial Bank. A system of risk-sharing by the government and banks has been established.

Next, Qinhan will build a poverty alleviation service platform. The situations of poverty-stricken villages and households have been thoroughly investigated and the needs of poor households, new agricultural management entities and leading enterprises have been sorted out so that credits can be offered based on their specific circumstances.

In addition, measures have been taken to improve the credit system. Credit ratings for poor households, small and micro enterprises and new agricultural business entities have been given out. Poverty-relief microfinance without mortgage or guarantee is being promoted.

A total of 426,000 yuan in loans has been given to 26 poor households in the city, and based on the proportion of loans, a 360,000-yuan risk compensation fund has been set up for the microfinance of registered poor households.

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Villagers at the Shaanxi Weicheng Rural Commercial Bank. [Photo/xixianxinqu.gov.cn]