Yingcai Edu (IFC-39850)

Countries
  • China
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
Bank Risk Rating
B
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.
Voting Date
Mar 16, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
SHANDONG YINGCAI UNIVERSITY
The holder of the loan, grant, or other investment.
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, etc.
Investment Amount (USD)
$ 37.84 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. 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, converted to USD$. Please see updated project documentation 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 Mar 27, 2019

Disclosed by Bank Feb 13, 2018


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

Project 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
  • International Finance Corporation (IFC)
Private Actors

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.   

Contact Information

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/