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AIG Acquires Share Of First Wholly Foreign Owned Microcredit Company In China

Author: China CSR, Published on: 29 August 2008

American International Group, Inc. has announced that it has acquired 18 percent of MicroCred Nanchong, China and the exclusive right to sell micro-insurance to MNC clients for two years. MNC is the first wholly foreign-owned microcredit company in China…MNC began operations in October of 2007 and currently offers its clients…average loans of CNY25,000...AIG Micro Financial Services coordinates AIG's efforts to provide financial services products to low income individuals and micro entrepreneurs worldwide...[also refers to KfW Bankengruppe, MicroCred]

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Related companies: AIG KfW