Baidu MCC Gender (IFC-40399)

Countries
  • China
Geographic location 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
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
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
Jan 19, 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
CHONGQING BAIDU MICROLOAN CO LTD
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Education and Health
  • 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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 97.00 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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Dec 15, 2017

Disclosed by Bank Dec 8, 2017


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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.
The proposed investment entails a syndicated mid-term senior loan facility to Baidu Chongqing Baidu Micro-Loan Company Ltd (“Baidu CQ MCC” or the “Company”). Baidu CQ MCC, wholly owned by Baidu Inc., was established in October 2015 and registered in Chongqing. Since inception, Baidu CQ MCC has been providing tuition financing to students who are admitted to vocational training/educational institutions. With the development of its big data-based credit assessment methodology, Baidu CQ MCC is gradually expanding its business with more diversified product offerings. The proposed senior loan facility will be on-lent to women borrowers of the Company to finance their vocational training and education.
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.
Baidu CQ MCC is indirectly wholly owned by Baidu Inc., through Baidu Holdings Ltd., Baidu (Hong Kong) Ltd., and Baidu.com Times Technology (Beijing) Co., Ltd. Founded in January 2000 by Mr. Robin Li, Baidu Inc. is a leading Chinese internet company listed in NASDAQ in 2005.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Baidu Inc Parent Company -

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.
Chongqing Baidu Micro-Loan Co., Ltd. Mr. Yan, Jinhua Funding Manager yanjinhua@baidu.com NO.10, Shangdi Shijie, Haidian District, Beijing, P.R. China http://ir.baidu.com/phoenix.zhtml?c=188488&p=irol-irhome 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/

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How it works