Alibaba starts $1.5 billion anti-poverty fund
“Alibaba Group on Friday launched a 10 billion yuan (US$1.51 billion) fund to support China’s ambitious poverty alleviation campaign.
The Alibaba Poverty Relief Fund will have the $1.51 billion donated over the next five years.
China has already lifted more than 500 million people out of poverty after three decades of economic reforms on the mainland and President Xi Jinping has made it a policy priority with a plan to eradicate extreme poverty by 2020.
Alibaba executives will be assigned to work on projects including education, poverty relief among women, developing sales of rural products from impoverished regions, and initiatives combining poverty alleviation and environment protection. All of them will have that poverty work included in their performance evaluations. Ma said all companies within the group would also be given a poverty relief project to handle…”
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https://www.nextbigfuture.com/2017/12/alibaba-starts-1-5-billion-anti-poverty-fund.html/amp