China: Ping An Leasing E-Mobility Financing Project - Loan (AIIB-000979)

Regions
  • East Asia and Pacific
Geographic location where the impacts of the investment may be experienced.
Countries
  • China
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 18, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Ping An International Financial Leasing Co., Ltd.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Finance
  • Infrastructure
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 125.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 125.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 250.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ AIIB website

Updated in EWS Jan 13, 2026

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the AIIB, the project development objective is to accelerate the decarbonization of China's road transport sector by supporting the faster adoption of electric vehicles (EVs) and enhancing the associated infrastructure.

The Project entails AIIB providing an A loan of up to United States Dollar (USD) 125 million equivalent in Chinese Yuan (CNY), complemented by a C loan up to USD125 million equivalent in CNY to be mobilized by AIIB on a best-effort basis, to Ping An International Financial Leasing Co., Ltd. (PAIFL) to support its financial leasing services for urban transport electrification in China.

The loan proceeds will support eligible subprojects through lease financing, targeting underserved segments of China's EV ecosystem. Approximately 80 percent of the proceeds will be allocated to electric light-duty and heavy-duty trucks, as well as electric passenger vehicles in tier three and tier four cities. The remaining 20 percent will be dedicated to charging infrastructure, with a focus on charging stations for electric heavy-duty trucks, charging networks along highways and major roads, and public fast chargers across China. AIIB financing will follow PAIFL's Sustainable Development Financing Framework, which is aligned with the Green Loan Principles and Social Loan Principles of the Loan Market Association.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

According to the AIIB, "the Project is placed in Category FI and is expected to have limited adverse environmental and social (ES) impacts. Subprojects classified as Category A or Higher Risk Activities as per AIIB’s ESF will be excluded from this Project."

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by Bloomberg, Ping An International Financial Leasing Co., Ltd. offers financial leasing services. The Company conducts direct leasing, leaseback, entrust leasing, leveraged leasing, joint leasing, and other businesses. Ping An International Financial Leasing provides leasing services for medical, engineering construction, manufacturing, education, and other areas.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

AIIB Team Leaders:

Yihong Wang - Investment Officer, Financial Institutions and Funds Clients Department, Global
Email: yihong.wang@aiib.org

Eric He - Investment Officer, Financial Institutions and Funds Clients Department, Global
Email: eric.he@aiib.org

Financial Intermediary - Ping An International Financial Leasing Co., Ltd.:

Yang Zhou - Finance Manager
Email: Zhouyang894@pingan.com.cn

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

How it works

How it works