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Heungkong Women's Entrepreneurship Fund
Project background and introduction: Heungkong Group has been doing charity work since 1992, however we have gradually found that simple donations may immediately improve the lives of recipients, but they will also make some of the recipients have a gradual tendency to wait for, develop a dependency on or request for donations. This is not basically why the charity has been done, hence we shall attempt to create better development conditions for them by finding a sustainable way to assist them both in conceptual terms and in terms of transforming the local economic environment.
In mid-2011, the Heungkong Charitable Foundation contributed RMB 10 million to establish the Heungkong Women's Entrepreneurship Fund, with a purpose to provide women living in impoverished areas of Guangdong province with microcredit to solve problems in relation to entrepreneurship, support them in setting up small business projects and provide complementary technical training and advices. Bearing in mind the principle of “teaching one to fish is better than giving him fish”, the Heungkong Women's Entrepreneurship Fund will always aim to help women in rural areas improve their living environment through their own efforts.
create a sustainable rural development environment
to provide small interest-free loans to women in rural areas for their entrepreneurship and help them improve their survival and living conditions through their own efforts
impoverished women in rural areas
Project goals and recent developments:
The Heungkong Women's Entrepreneurship Fund, with a principal of RMB 10 million and supports from the Guangdong Women and Children's Foundation, carries out entrepreneurship support activities for extremely impoverished single-mother families and impoverished women in several poor villages in Guangdong in the form of financial poverty alleviation, so as to provide interest-free loans and related skills training for impoverished women in rural areas who are able to work, have the desire to start their own businesses and have feasible projects. It is roughly estimated that, with a base of RMB 10 million and taking three years as a cycle, the Heungkong Women's Entrepreneurship Fund can help approximately 500 women in rural areas to develop their production in the first phase, while also addressing the issues of family responsibilities and children's education that they previously faced as a result of working outside.