The World Bank has provided a US $ 400 million loan to support poverty alleviation in the Guangxi Zhuang Autonomous Region in southwest China.
The loan is the first implementation of a World Bank-approved project to reduce poverty in China’s villages. The project, which links loans with direct results, will help local small businesses enter broader markets, improve local infrastructure, Loan funds planned in 28 local governorates.
Some 1.7 million poor rural people benefit from climate smart farming technology and practices.
“The new” results-oriented “project will strengthen institutional innovation in poverty alleviation efforts by linking events more closely with poor families and villages,” said Pavo Alisti, Senior Agricultural Economist at China’s World Bank.
China is the first country to achieve the Millennium Development Goal of halving the number of poor people.