JD.com, Inc. and Grameen China reached an agreement on a strategic partnership in China. The partnership will use JD.com's crowdfunding platform to raise money to establish Grameen China's ground operations. Future cooperation between both organizations will also use the platform to provide microloans for entrepreneurs in rural areas of China, which have been underserved by the traditional banking system. The platform will also help to alleviate poverty in rural Chinese communities.
"JD.com is extremely proud to provide a platform for Grameen Trust, the global leader in microfinance, and Mahammad Yunus to expand their groundbreaking work helping to alleviate poverty in China by empowering rural entrepreneurs. In line with our vision to give back to the communities that have made us successful, we look forward to drawing on the expertise of Grameen Trust to strengthen JD.com's microfinance and crowdfunding efforts to more effectively empower people living in rural areas of China," said Richard Liu, Founder and CEO of JD.com. "The partnership between Grameen China and JD.com is a landmark step in the development of China's nascent microfinance efforts. Grameen's expertise in empowering people in rural areas to lift themselves out of poverty, combined with JD.com huge user base and reach into targeted areas, provides a tremendous opportunity to make a real difference in people's lives," said Mr. Zhan Gao, President and CEO of Grameen China.