China Development Bank Helps Alleviate Poverty in Guizhou

China Development Bank signed a Development Financial Cooperation Memorandum for Poverty Alleviation with Guizhou Province on March 2, 2012. Since then, the China Development Bank Guizhou branch has worked to integrate Guizhou’s government organization advantages and financing to find a way to alleviate poverty.

The China Development Bank Guizhou branch has made several poverty alleviation financing plans for poverty-stricken areas in Guizhou. It has also participated actively in promoting system reform and innovation in water resources investment and financing. The work has helped solve financing issues for water resource projects..

The China Development Bank Guizhou branch also helped the local government set up and improve platforms to introduce market mechanisms to alleviate poverty.

The China Development Bank Guizhou branch has provided an agricultural microcredit financing product to support poverty alleviation in different areas in Guizhou. It has offered credits worth 3.44 billion yuan (US$552.12 million) to 16 counties. The method has been highly praised by the State Council and recognized as a Guizhou Model of Poverty Alleviation.

Since 2012, China Development Bank has invested 9.13 billion yuan in the field of poverty alleviation to support infrastructure construction, medical care, education and other fields in rural areas in Guizhou.