Beijing, April 18, 2007 — The Asia Foundation, with the support of The Boeing Company and in partnership with Beijing Fuping Development Institute, launched the Social Innovation Fund today by awarding loans to migrant workers to start their own businesses. The one-year pilot program, â€śEnhancing Economic and Social Opportunities for Migrant Women Workers in Beijing,â€ť will create economic opportunities for migrant workers in Chinaâ€™s capital.
Three migrant workers who submitted business plans for an online clothing store, a computer accessories store, and a garment processing shop received small loans to start their business at the award ceremony. Mr. David Wang, President of Boeing (China) Co. Ltd, Dr. Jonathan R. Stromseth, Country Representative for China of The Asia Foundation, and Mr. Mao Yushi, Chair of Board of Beijing Fuping Development Institute attended.
The Social Innovation Fund will fund 10 to 15 applicants over the course of the program. In addition to providing loans, the program also provides business and legal training.
â€śThe Boeing Company has a long history of supporting charity worldwide. To be a good corporate citizen is an indispensable part of the ethics of The Boeing Company and a core value of the company. Over the past 35 years, Boeing and China have been partners and friends. Boeing is proud of its friendship with China and appreciates the trust and support from the Chinese people.â€ť Mr. David Wang, Vice President of The Boeing Company and President of Boeing (China) Co. Ltd, said.
â€śWith Boeingâ€™s support and Fuping Instituteâ€™s partnership for the social innovation fund, The Asia Foundation is able to expand its migrant women workers program of the past seven years from the Pearl River Delta and Lower Yangtze River Valley to Beijing and provide opportunities for migrant workers to pursue their career goals.â€ť Dr. Jonathan R. Stromseth, Country Representative for China of The Asia Foundation said.