China’s Zhongyuan Bank to Replicate Grameen Microcredit Model
Zhongyuan Bank Co Ltd, a leading banking group in China, has signed an agreement with Grameen Trust for replicating Grameen Bank’s microcredit model on a large scale in China.
The agreement was signed at Yunus Centre in Dhaka on Thursday; Wang Jiong, president of Zhongyuan Bank, led a four-member delegation to a meeting with Nobel laureate Muhammad Yunus.
Officially launched in 2014, the bank is formed through the merger of 13 commercial banks, Yunus Centre said in a statement.
The nationwide bank in China has 13,000 employees, and is headquartered in Zhengzhou, capital of Henan province, the heartland of China.