RURAL CREDIT II

closed

The project would expand the Bank Group's support of ABC's (Agricultural Bank of China) medium and long-term lending for the diversification and modernization of agricultural production and processing which was initiated by the ongoing first Rural Credit Project (1462-CHA). Project subloans would be provided by ABC to individual farmers and households, collective units, and enterprises owned by local government entities and collectives in the two provinces of Fujian and Hunan to finance investments for the development of aquaculture, orchards, agroprocessing and livestock enterprises. A technical assistance component is included to effectively implement the project and to strengthen the operations of ABC. At full development, the value of the incremental output from the project would be about US$140 million p.a. The project would benefit directly some 16,000 families from increased production and incomes, and generate additional employment equivalent to 61,000 full time jobs.