Hainan RCU Loan (IFC-38645)

Countries
  • China
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Canceled
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
QIONGZHONG LI AND MIAO AUTONOMOUS COUNTY RURAL CREDIT COOPERATIVES UNION CO., LTD.
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • Finance
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, etc.
Investment Amount (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 7, 2018

Disclosed by Bank Feb 17, 2017


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Project Description

The proposed investment supporting the rural financial system in a frontier province is strongly aligned with the FIG strategy in China and consistent with the country priorities (which focuses on balanced rural-urban development). China is the largest among the 25 Universal Financial Access (“UFA”) focus countries with a high proportion of unbanked and underserved, particularly in rural areas. In the context of balanced rural-urban development and UFA goals, IFC is focusing on the development of the rural finance sector which is considered one of the most challenging sectors to reform within the Chinese financial industry; it remains underdeveloped with a low level of financial intermediation and insufficient access to affordable finance for the majority of the 600 million population and the MSMEs in rural.

Investment Description
  • International Finance Corporation (IFC)
Contact Information

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