The China Microfinance Summit was held in Beijing on September
22-24, 2003. It was jointly organised by Grameen Trust (GT) and
the Rural Development Institute of the Chinese Academy of Social
Sciences (CASS). The summit was sponsored by GT, Citigroup Foundation,
Grameen Foundation-USA, CASS, Ford Foundation and the People’s
Bank of China.
A
borrower sharing her experiences at the press conference
of Beijing Summit: Professor Latifee, Professor Du Xiaoshan
and Mr. Richard Stanley were present.
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The summit,
attended by microfinance practitioners who have been implementing
numerous microcredit initiatives that followed essential Grameen
approach, provided an opportunity to share the experiences of microfinance
institutions in fighting poverty with special
reference to China. It discussed the experience already acquired,
problems encountered and new possibilities for development of microfinance
industry in the country.
The summit
had sessions on macropolicies for microfinance, the progress and
challenges of current programs that target the poor in China and
their impact on poverty reduction, capacity building strategies
and innovations in poverty focused microfinance programs. A total
130 participants attended the summit from China, Bangladesh, India,
Nepal, the Philippines, Vietnam, France and the USA. The participants
represented the microfinance programs, the central and other banks,
donors agencies, wholesale funds, research institutions,clientele
and the government.
The
summit concluded that microfinance could play a significant role
in poverty reduction in China and this would need concerted and
coordinated efforts from all concerned who believed in the power
of microfinance.
Report by Grameen Trust
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