Original disclosure @ AIIB website
Updated in EWS Aug 23, 2024
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According to the Bank’s website, the objective of this project is to supply job-ready professionals by increasing the capacity of employment-oriented education infrastructure.
The Project will finance the construction of Phase 1 of the new campus of the Yantai Institute of Science and Technology (YIST) at Yantai, Shandong Province, China. The new campus will be used to facilitate educational activities, including the launch of new courses in the areas of engineering, computer and software, art and design, and international education. The total construction area of Phase 1 is about 276,000 m2, covering five learning facilities, student accommodations, a theatre, a stadium, international exchange centers, and other related amenities.
The AIIB's Environmental and Social Policy (ESP), including the Environmental and Social Standard 1 (ES Assessment and Management) and 2 (Involuntary Resettlement), and the Environmental and Social Exclusion List, applies to the Project. Since there is no indigenous community in the Project vicinity, ESS 3 (Indigenous People) is not applicable. The Project has been classified as category B because the scale of land acquisition, transfer, and physical relocation is small, and the environmental impacts of the Project assessed to be short-term, local, reversible, and of low significance.
The ESDD concluded that this Project is expected to have minimum impacts and risks associated with construction and operation activities. The risks and impacts during construction include, but are not limited to, contractors' ES management, air and noise pollution, impacts on water resources, waste generation, labor and working conditions, health and safety, and increased traffic. The risks and impacts during the operation stage include the impact on water use, solid waste, labor and working conditions, and health and safety.
The Project has acquired land for the construction of the new campus, affecting 49 households, 11 small businesses, and one state-owned company.
The total estimated cost for the new campus is USD296.6 million, covering two phases. AIIB’s proposed non-sovereign backed loan up to USD95.0 million in Chinese Yuan, is to finance Phase 1 of the new campus, the Project. The balance financing for the Project is proposed to be from the YIST, Asian Development Bank and other commercial lenders.
Yantai Institute of Science and Technology - Established in 2005, Yantai Institute of Science and Technology operates higher vocational education in Shandong Province. In March 2019, Yantai was acquired by Huafang Education Investment Group (Ganzhou) Company Limited, a consolidated affiliated entity of China Education Group Holdings Limited. Consequently, the student population has pushed the existing campus to its physical limits and necessitated expansion.
| Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
|---|---|---|---|---|---|---|
| - | - | - | - | Yantai Institute of Science and Technology | Client | - |
PROJECT TEAM LEADER
BORROWER
Yantai Institute of Science and Technology
David Xie
Director of Administration
ACCESS TO INFORMATION
You can submit an information request for project information at: https://www.aiib.org/en/contact/information-request/index.html
ACCOUNTABILITY MECHANISM OF AIIB
The AIIB has established the Accountability Mechanism for Project-Affected People (PPM). The PPM provides Òan opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIBÕs failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.Ó Two or more project-affected people can file a complaint. Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply. You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html
The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html
