Fund set for targeted poverty alleviation in Sichuan

Recently, Sichuan Jinding Financial Holding Co, a subsidiary of Sichuan Energy Industry Investment Group Co, set up a poverty alleviation fund, the first established by a national-level State-owned enterprise in Sichuan province.  

With a size of 18 million yuan ($2.78 million), the fund will focus on over 300 poverty-stricken villages. As an inclusive finance platform, the company will shoulder its social responsibility and integrate financial targeted poverty alleviation with the strategy of rural vitalization in an efficient way to reach the goal of poverty alleviation at national and provincial levels.

By making use of its advantages as an inclusive finance platform, Sichuan Jinding Financial Holding plans to raise 10 million yuan in three years and invest 1 million yuan of industrial subsidized interest loans in each of 10 selected villages to develop them into industrial poverty alleviation demonstration villages and improve their own economic potential.

It will also raise 4 million yuan to help 100 poverty-stricken households improve their living environment.

Moreover, the offspring of 100 Red Army veterans and elderly rural CPC members who have difficulties in living will benefit from this fund, since another 4 million yuan will be raised for their education.

(Executive editor: Hao Wen)