Industrial Bank lifts county in Sichuan out of poverty
The poverty-stricken Danba county in the Ganzi Tibetan autonomous prefecture, Sichuan province finds its way to prosperity with the help of the Fuzhou-based Industrial Bank. [Photo/VCG]
Danba county in the Ganzi Tibetan autonomous prefecture was among the poorest areas in Sichuan province, but thanks to assistance offered by the Fuzhou-based Industrial Bank, the county was lifted out of poverty in 2019, according to a news report on June 18.
Constrained by poor geographical factors, Danba county's 2,958 residents and 791 households were well under the poverty line in 2017, with a poverty incidence rate of 5.82 percent.
In 2018, Industrial Bank launched an assistance program to offer poverty alleviation loans and skill training or funds to local residents. As a result, the county was able to lift all of its residents out of poverty last year.
According to an official at Danba's water supply company, the bank allocated a floating capital loan of 5 million yuan ($705,567) to help the county renovate its infrastructure construction projects. The bank also donated 100,000 yuan to the mountainous county to pave the roads.
Statistics show that the bank has injected nearly 8 million yuan into the county's poverty alleviation work since 2018, which has played a vital role in helping villagers escape poverty and lead comfortable lives.
In addition, Industrial Bank carried out a number of programs related to agriculture, education, rural tourism and rural construction, aiming to eliminate absolute poverty and improve the overall quality of life in the area.