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Wokai, Microfinance, & Our Future China
Fu Yajun
$450 loan
changed her life
800 people
like Fu Yajun
in Inner Mongolia & Sichuan
1,000,000 people
like Fu Yajun
over the next 10 years
Wokai
Funds
MFIs
People
So what?
Conclusion: microfinance can change the world... FAST.
What about China?
Wokai,
Microfinance &
Our Future China
Why now?
'79: equal
Today: 3X
Urban: US$ 12,000
'27: 6X+
Rural: US$1,900
China
India
$0.2Bn
300MM living on <1.25/day
'70s start
$2Bn
460MM living on <1.25/day
'70s start
SOEs
ABC
RCCs - 300Bn+
Postal Savings Banks
NGO's
Private MFIs
mid-1990s
100 institutions
MCCs - 3000+ - avg. 400,000RMB - '06
VBs - 100+ - '06
2004 founded
54 countries
Kiva
500,000+ loans
100,000,000+ dollars
'76: Prof. Yunus has an idea
$27 - 42 women
'06: Yunus wins Nobel Prize
133 million people
96%+ repayment
http://www.worldwatch.org/node/5830