Gates Foundation Seeking to Jump Start Rural Credit in China

An article on tradingmarkets.com states the South China Morning Post has reported the Bill & Melinda Gates Foundation is in talks with global bank HSBC Holdings and New Hope Group, China’s largest animal feed producer, aimed at establishing rural credit firms.  The firms would provide financing to Chinese farmers who are unable to obtain bank loans so they could upgrade their equipment and production techniques.  Other banks and international charities are also involved in the discussions.  New Hope Group already has three partially government-funded rural credit firms and plans to invest 100 million yuan ($14 million US dollars) to establish seven more.  The discussions are presumably part of the Gates Foundation’s Global Development Program, which seeks to work with other organizations to create opportunities to lift the world’s poorest people out of poverty and hunger.

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