Technical Assistance Case Study: MicroCred Nanchong

The following is an overview of PF China's Technical Assistance services to the establishment of MicroCred Nanchong

Using its decades of experience in China, PlaNet Finance China, with the invaluable support of many departments of the Nanchong City governments, of the provincial authorities, and of International Finance Corporation, assisted MicroCred SA register China’s first wholly-foreign owned loan company in October 2007.
 
As of the end of August 2008, the company (a Microcredit company set up under the pilot microfinance initiative of the People’s Bank of China) had more than 650 micro-entrepreneur and rural clients borrowing an average amount of RMB23,000.
 
Post-establishment, PlaNet Finance China continues to work with the local MicroCred management,  sending its local consultants to monitor loan officer compliance to methodology and operational guidelines, to ensure the flow of market feedback to the board of directors, to assist experts visiting from abroad, and to cross check internal risk control procedures.