UNDP’s work on the development of microcredit in China started in 1994. Working with the Support and Coordination Office (SCO) of the China International Center for Economic and Technical Exchange (CICETE), the programme first established grassroots Rural Development Associations (RDAs) in Yunnan Province, which gradually spread to 48 counties in 16 provinces. With a budget of nearly US$20 million, half of which is in a revolving loan fund, the programme has disbursed microcredit to more than 300,000 clients all over China.