According to the bank document, the proposed Project is to construct a liquefied natural gas (LNG) terminal in Binhai District, Tianjin Municipality, which includes two components:
(i) construction of LNG receiving, storage and regasification facilities with an annual handling capacity of 5 million tons of LNG; and
(ii) construction of unloading wharf. AIIB financing is planned to be used in the construction of LNG receiving, storage and regasification facilities under the first component.
The objective of the proposed Project is to support China’s transition to a low-carbon energy supply structure and accelerate air quality improvement in the region of Beijing, Tianjin and Hebei (the BTH region) by increasing the availability of natural gas to help replace and reduce coal consumption.
AIIB loan US$ 500.0 million
Beijing Municipal Government US$ 571.6 million
Implementing Entity US$ 833.6 million
1/ AIIB Contact:
Name: Mr. Hongliang Yang
Title: Senior Investment Operations Specialist of AIIB
2/ Borrower Contact:
Name: Ms. Su Han
Title: Senior Advisor Department of International Economic and Financial Cooperation.
Ministry of Finance
3/ Implementing Entity
Name: Ms. Yan Kang
Title: Chief Finance Officer.
Beijing Gas Group Company Ltd
ACCOUNTABILITY MECHANISM OF AIIB
In addition, the AIIB has a Bank Oversight Mechanism. According to AIIB's policies, "people who believe they have been or are likely to be adversely affected by a failure of the Bank to implement the ESP may also submit complaints to the Bank's oversight mechanism in accordance with the policies and procedures to be established by the Bank for such mechanism." However, at the time of writing, it is unclear what the exact scope and function of this Oversight Mechanism will be.
For information on how to make submissions to the PPM, please visit the PPM web page: https://www.aiib.org/en/policies-strategies/operational-policies/policy-on-the-project-affected-mechanism.html