Fuping Development Institute
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In 1993, professors Yushi Mao and Min Tang experimented with microfinance loans of 500 RMB which benefited around 4,000 farmers in Shanxi province. By 2007, over 5 million RMB had been loaned with a 97% repayment rate. In 2005, the project won a United Nations microfinance award. Additionally, a 2002 vocational training project provided training to 12,000 women, increasing average incomes to 15,000 RMB. The program employs 50 people, most of whom are former laid-off workers.
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