Aug. 6, 2009 (China Knowledge) - The International Finance Corp, the private-sector lending arm of the World Bank, on Tuesday said that it will invest RMB 5 million in Renshou Minfu Rural Bank in Meishan in Southwest China's Sichuan Province to support micro-financing in the area.

In addition, the IFC will offer technical assistance and introduce risk-control measures to improve the bank's efficiency.

Renshou Minfu Rural Bank, set up in December 2008 with a registered capital of RMB 20 million, is the first rural bank in Meishan. The bank, whose largest shareholder is Leshan City Commercial Bank, aims to set up 11 subsidiaries in Renshou County in the next three to five years.

In late March, China reached a preliminary agreement with IFC on buying its private equities in order to boost trade finance, said Li Yong, China's vice finance minister, according to an earlier report from China Knowledge.