While China’s economy has experienced tremendous growth in recent years, many microentrepreneurs still do not have access to the financial services they need to build sustainable businesses. In order to respond to this need, in 2009, we launched Accion Microcredit China (AMC) in Chifeng, Inner Mongolia. We are also committed to providing client education through our Dialogue on Business program as well as providing training and capacity building opportunities for microfinance professionals in the region.
Accion was one of the very first foreign organizations to be granted a license to launch microcredit operations in China, and established AMC in 2009 to provide previously underserved regions of Chifeng with access to quality financial services. AMC now provides working-capital and fixed-asset loans for urban and rural, small and medium-sized enterprises in the Chifeng region, Inner Mongolia.
After several years of operations in Chifeng, AMC is still one of only a handful of mission focused microcredit companies in China. It is a profitable, growing enterprise reaching over 1,000 entrepreneurs with a loan portfolio of just over $10 million. The company’s profile as a professional and well run organization, committed to realizing greater financial inclusion in underserved markets, attracted a like minded external investor in mid-2012, Sagamore Investments, a private equity firm with over ten years experience investing in China.
In the area of client education, Accion has also partnered with the China Women’s Development Foundation (CWDF), a nationwide, non-profit, social welfare organization, to bring business skills training to women microentrepreneurs in China based on its award winning Dialogue on Business curriculum. The Foundation is dedicated to improving women's overall quality of life, maintaining women's legal rights, promoting the development of women, and assisting poor women through financial and material support. The Foundation actively participates in many social welfare activities, including women’s education, training, poverty alleviation and disaster rescue.
Accion is also working to build industry training capacity in the core areas of microfinance. An initial training effort has been launched in collaboration with one of China’s largest MFIs, the Chinese Foundation for Poverty Alleviation (CFPA).
We currently work in a variety of areas in China:
Accion is an operating partner of Accion Microcredit China and provides a range of technical assistance and managerial support to the institution.
Accion’s Venture Lab has invested in DemystData, a Hong Kong-based company that uses technology to help financial institutions reach populations typically underserved by financial services.
We provide technical and management training to microfinance industry professionals through our Global Training Center in Beijing.
Using our award-winning Dialogue on Business curriculum, Accion has partnered with the China Women's Development Foundation (CWDF) to bring business skills training to women microentrepreneurs.