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Zu Yuguo

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Written by   187
11 months ago

With an annual rainfall of about 200 millimeters, Zengjipan Village in southwest China's Ningxia Hui Autonomous Region has suffered from bad harvests and extreme poverty. However, the introduction of microcredit has brought hope to the locals.

In 2007, a microcredit agency was set up in the village, and Zhu Yuguo, the village's Party branch secretary, became its president. The agency can give loans from 1,000 to 5,000 yuan ($128.2-741) to impoverished households after they deposit a small amount.

The loans have helped many to expand the size of their herds. Zhu then upgraded the credit system and raised the maximum loan amount. The policy was successful, and between 2007 and 2015, the average annual income in the village rose from 1,500 to 5,795 yuan. #ZeroPoverty2020

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Written by   187
11 months ago
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