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| Donations Worth US$25m for Poverty Alleviation in 2006 |
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The China Foundation for Poverty Alleviation (CFPA) said yesterday it received donations worth 196 million yuan (US$25 million) in 2006, 7.7 percent more than 2005. CFPA used 175 million yuan (US$22.5 million) in funds and goods, up 30 percent on 2005, to help 533,600 poor people in 279 counties, said He Daofeng, executive vice president of CFPA. The donations coming from domestic and international firms and individuals also benefited destitute college students at 452 universities, He said. Several institutions including China Construction Bank were hailed by the foundation for their significant contributions to China's anti-poverty campaign. CFPA is a major non-governmental poverty reduction organization in China. China Development Bank agreed last year to donate 100 million yuan (US$12.8 million) worth of loans to a CFPA micro-credit scheme in China's rural areas. CFPA has already established micro-credit branches in 10 poverty-stricken counties across seven provinces, which have collectively handled 150 million yuan (US$19 million) of loans. Over 330,000 farmers have benefited from this program since 1996. (Xinhua News Agency January 11, 2007) |
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