Ningxia Hui Autonomous Region in China to give poor people $433 million in loans


The Ningxia Hui Autonomous Region in north-west China will continue to expand financial support for the poor to defeat poverty in the region, providing 3 billion yuan ($433 million) in loans this year, Xinhua news agency reported on March 9. The funds will be used for the development of industry, medicine and public services, construction of infrastructure and housing. The region will also increase the age limit for applicants for loans from 60 to 65 years, the administration of financial supervision of the region reported. By the end of 2019, small loans in the region had reached the size of 7.55 million yuan. These loans affect 80% of poor households. The average amount of the loan per household is 50,000 yuan. We remind that China plans to overcome poverty in the country by the end of 2020, having passed to the number of countries of moderate wealth of the population. To do so, he has to lift over 5.5 million people out of poverty across the country, including 18,800 in Ninsya.

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