ACCION Microfinance China to Receive $1M Investment from IFC

ACCION International, a global microfinance organization, is to receive a $1m investment from IFC to strengthen the operations of its Chinese affiliate ACCION Microfinance China (AMC).

The investment of Chinese RMB 7m represents an 18.9% equity interest in AMC.
IFC previously signed a cooperation agreement with ACCION to provide up to $1m to finance a three-year technical assistance program for its Chinese affiliate.

AMC was launched in December 2009 to provide previously underserved communities of Chifeng, Inner Mongolia, with access to working-capital and fixed-asset loans for thousands of urban and rural, small and medium-sized enterprises.



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