Chinese SMEs Obtain World Bank Backing

The International Finance Corp. will lend USD15 million to small and medium-sized enterprises in China's Sichuan province, which was devastated by an earthquake last year. According to

, the funding will be managed by the Chengdu Small Enterprise Credit Guarantee Co. "As an effort to support reconstruction in the quake zone, we hope the project will help improve local people's livelihoods," said Michael Ipson, IFC's chief representative in China and Mongolia.