ACCION begins operations in Inner Mongolia

Microfinance Focus, Dec. 16, 2009: After two years of planning, ACCION International has launched operations in Inner Mongolia, an autonomous region of China, said  a statement.
ACCION Microcredit Company, the first foreign-funded microfinance bank in Inner Mongolia, started providing financial services to microentrepreneurs in the city of Chifeng on December 11, reportedly an auspicious date according to the city’s respected elders.

Over the next five years, ACCION Microcredit Company is expected to provide working capital and fixed asset loans for thousands of urban and rural, small- and medium-sized enterprises in Chifeng. Loan amounts start at 3000 RMB ($440). This venture in Chifeng heralds ACCION’s effort to enter challenging regions and bring microfinance to areas most in need.

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