Canvest Corporate Loan (IFC-40570)

  • China
Geographic location where the impacts of the investment may be experienced.
Specific Location
Guangdong, Guangxi, Guizhou, Jiangxi, and Sichuan provinces
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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
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."
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 50.00 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)
$ 853.80 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.
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 20, 2019

Disclosed by Bank May 31, 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.

Canvest Environmental Protection Group Company Limited (“Canvest” or the “Company”) is a Chinese private waste-to-energy (“WtE”) player with total secured capacity of 26,040 tons per day (“tpd”) as of March 31, 2018.

Canvest currently has 10 WtE projects in operation/testing with total capacity of 13,540 tpd, and an additional 7 WtE projects in the pipeline with a total installed capacity of 26,040 tpd of MSW. At the time of IFC’s initial investment in the company (2016), four WtE projects in Guangdong were operational, while an additional five were in development, two of which have since become operational and others have added phases to existing facilities.

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

 As of December 31, 2017, Canvest was 54.6% owned by Lai Family.  Other main investors include Shanghai Industrial Holdings Limited (“SIHL”) – 14.5%; and AEP Green Power – 5.6%.  IFC provided a C Loan to Canvest in April 2016, which was subsequently converted into a 4.9% ownership.

The total project cost is estimated at about US$853.8 million, which is to be financed by a combination of Company’s internal cash generation, IFC A Loan, mobilization, and the domestic bank loan.  IFC’s A Loan will be 6% of Company’s total CapEx need during 2H2017-2019.

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.

"Canvest is mainly a family-owned business, with the Lai family holding a 54.6 percent stake, while other main investors include Shanghai Industrial Holding Ltd and AEP Green Power, which hold 14.5 percent and 5.6 percent, respectively".

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - AEP Green Power Investor -
- - - - Shanghai Industrial Holdings Ltd Investor -

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.

1/ The Project Contacts

Canvest Environmental Protection Group Company Limited 
George Law 
Vice President 
(852) 2668 6596 
Unit 6803B, Level 68, ICC, 1 Austin Road West, Kowloon, Hong Kong 

2/ IFC Contacts

General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

3/ Local Access for Project Documentation

George Law 

Address: Unit 6803B, Level 68, ICC, 1 Austin Road West, Kowloon, Hong Kong

Telephone no.: (852) 2668 6596

Fax: (852) 2668 6597




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 You can learn more about the CAO and how to file a complaint at

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