Yingcai Edu (IFC-39850)

Countries
  • China
Geographic location where the impacts of the investment may be experienced.
Specific Location
Jinan, Shandong Province
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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
Mar 16, 2018
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
SHANDONG YINGCAI UNIVERSITY
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Construction
  • Education and Health
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)
$ 37.84 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.
Currency conversion note:
Bank reported 240
Converted using 2018-02-19 exchange rate.
Project Cost (USD)
$ 61.02 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.
Currency conversion note:
Bank reported 387
Converted using 2018-02-19 exchange rate.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 10, 2020

Disclosed by Bank Feb 13, 2018

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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 IFC website, Shandong Yingcai University (“Yingcai” or the “Company”), a leading private university based in Jinan, Shandong Province, plans to refurbish some of its existing campus buildings, upgrade teaching facilities, and improve its capital structure (the “Project”). Shandong Yingcai University is a privately owned higher education provider in Shandong Province, China, offering undergraduate programs including an early childhood education program. Yingcai has two university campuses in Jinan, the capital of Shandong, which are about 10 km apart and in the northern and southern part of the city respectively (north and south campuses), in areas which are not densely populated and which are within designated economic development zones .

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
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.

Prof. Wen Yang and Prof. Jiting Xia are the Project Sponsors and together own 100% shareholding in Yingcai. Prof. Yang is the Chairwoman of the Company, having co-founded it with her husband Prof. Xia in 1998. Prof. Xia is the Principal of Yingcai. Both Sponsors are reputable within the Chinese education sector having more than 20 years' teaching and operational experience in the education industry.   

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Shandong Yingcai University Client -

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.

Shandong Yingcai University
Nan Shen
Chief Financial Officer
+86 531 8825 3102
shennan@ycxy.com
2 Yingcai Road, Gaoxin High-Tech District, Jinan, Shandong, China
http://www.ycxy.com

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

How it works

How it works