JD.com, Grameen China Sign Agreement On Partnership In China - Quick Facts

(RTTNews) - JD.com, Inc. (JD), an online direct sales company in China, and Grameen China, the China-based entity of Grameen Trust or "GT", a non-profit and non-government organization committed to the cause of poverty alleviation, have signed an agreement on a strategic partnership in China.

The partnership would utilize JD.com's crowdfunding platform to raise money to establish Grameen China's ground operations, and future cooperation would likely also use the platform to provide micro-loans for entrepreneurs in rural areas of China, which have been underserved by the traditional banking system.

To kick off the partnership, JD Finance, the finance business unit of JD.com, and Grameen China today launched a crowdfunding microfinance project, led by Nobel Laureate and GT founder Mahammad Yunus, a pioneer in microcredit and microfinance.

On December 17, 2014, Mr. Yunus and Richard Liu, Founder and CEO of JD.com, will host a fundraising breakfast to formally launch the partnership between JD.com and Grameen China.