Zhonghe Rural Credit Cooperative is a microfinance service institution, which originated from the pilot microfinance project created by 1996 World Bank loan poverty alleviation project in Qinba Mountain area. In 2000, the China Foundation for Poverty Alleviation took over the microfinance project in an all-round way and established the microfinance project department.
In June 2008, Zhonghe Rural Credit Project Management Co., Ltd. was established, and the microfinance project department was transformed into a corporate operation. After 20 10, Sequoia Capital, World Bank Group International Finance Corporation (IFC), Ant Financial, Tiantianxiangshang Fund, TPG and Renda Pratt & Whitney successively invested in Zhonghe Rural Credit Project Management Co., Ltd. to provide funds, talents and technical support for Zhonghe Rural Credit Project Management Co., Ltd.
By the end of 20 14, Zhonghe Rural Credit Cooperative had issued 938,000 loans, totaling 8.43 billion yuan, covering 16 provinces and 14 1 project counties, with 238,000 effective customers and a loan balance of18.8 billion yuan. According to the data of 20 18 annual report, among the loan customers of Zhonghe Rural Credit Cooperative, 88.6% are farmers, 59. 1% are women, 84.3% have junior high school education or below, 2 1.0% are ethnic minorities, and 50.84% have never borrowed money from other financial institutions outside Zhonghe Rural Credit Cooperative.