Founded 2003 Area served China | Location Beijing, China | |
Focus Microfinance Technical Assistance Key people Gabrielle Harris (Executive Director) Mission "Accelerate poverty alleviation through support to the Microfinance Sector" |
PlaNet Finance China (PFC) (Chinese: 沛丰中国) is a non-profit organization that works for sustainable social and economic development in China by supporting and promoting the microfinance sector. It is the representative office of the international non-profit organization PlaNet Finance Group.
Contents
PFC works with partner organizations and offers technical assistance to financial institutions and microfinance institutions (MFIs) that seeks to improve performance, or to extend their portfolios into microcredit and small lending. PFC runs diagnostics on city commercial banks, village banks, and MFIs to help them adopt international best practices with respect to governance, credit risk management, process optimization and cost-efficiency, liquidity management and strategy formation.
PFC is based in Beijing, and has been involved in the Chinese microfinance sector since 2003. Its Executive Director is Gabrielle Harris.
Philosophy
To strengthen microfinance delivery in two ways:
- To help small MFIs grow that are trying to get loan services to farmers and entrepreneurs in central and western areas of China
- To assist existing regulated financial institutions to efficiently extend their loan portfolio to small loans, using best practice credit and risk management strategies and technologies.
Activities
PFC provides a full set of advisory and technical assistance services to players in microfinance via three business lines:
Projects
The Renewable Energy Project for Tongwei County, Gansu Province
A co-financed project in collaboration with Areva, GDF Suez, the Japanese Government and the European Commission towards developing biogas facilities in Tongwei County through microcredit to the rural population.
The objectives of the Renewable Energy Project:
Pfizer & PlaNet Finance Collaboration
It was announced in March 2009 that PF China and Pfizer Inc. are collaborating to conduct an in-depth research project to determine the healthcare needs of the poor in China. The study aims to gauge the current healthcare climate in China, focusing on "the availability and existing sources of medicines, patient purchasing patterns, and the level of access to medical services."
Broadband for Barefoot Bankers (B4BB)
PlaNet Finance started “Broadband for Barefoot Bankers” project in September 2004 to June 2006, drawing experiences from a former program "Transfer of IT&C skills to strengthen the microfinance sector in China." PlaNet Finance worked in collaboration with European Commission’s Asi@ITC Programme who funded the project and China Foundation for Poverty Alleviation (CFPA) who oversees the work of loan officers. The total budget for the project was €292,280.
Who are the Barefoot Bankers?“Barefoot bankers” are locals working as loan officers under microfinance institutions in China. They possess insights on the livelihood and needs of the villages they serve and are the key to ridding poverty with the microfinance methodology. They are the target group in this project.
Project Goal & ObjectiveTo bridge the digital divide of the people living in rural areas of China by providing barefoot bankers access to computers and computer skills, thereby building economies for small Chinese communities through information and communication technology.
Project ImplementationThe regions to set up “Digital Hubs”, which were technologies learning centres, were identified by PlaNet Finance, and staff was hired and trained subsequently to manage the centres.
Barefoot bankers were taught to use the Management Information System, which is a loan tracking and accounting system computer program brought in by PlaNet Finance to improve loan process applications and serve more people. This system seeks to establish a stronger microfinance institution by reducing the possibility of fraud and misallocation of funds through clear documentation of cash flows. In addition, they were also taught the basics skill of using the Internet such as email and search, to facilitate the flow of information from loan officers to farmers (clients) in the rural areas.
Customized training sessions were held offering interactive classroom-based training, facilitated by trainers from PlaNet Finance’s international network as well as PlaNet Finance China. There were 2 training modules, namely the Basic Microfinance and Operational Microfinance that comprises the following contents:
Project Results- Zuoquan Digital Hub in Shanxi province provided 450 training sessions.
- Fu’an Digital Hub in Fujian province provided 391 training sessions.
- Xiapu Digital Hub in Fujian province provided 767 training sessions.