DCM CHIB Green (IFC-41290)

Countries
  • Philippines
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
Approved
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.
Voting Date
Aug 29, 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
CHINA BANKING CORPORATION
The holder of the loan, grant, or other investment.
Sectors
  • 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)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 150.00 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 Aug 7, 2019

Disclosed by Bank Aug 1, 2019


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Project Description

According to IFC website, IFC will support China Bank in raising long term funding for its lending program to qualifying green projects in the Philippines. Further, IFC anticipates the project will provide up to US$150 million in long-term financing for climate-smart and environmentally friendly projects such as renewable energy, green buildings, energy efficiency, and water conservation and waste water treatment projects. 

People Affected By This Project

Project Impact Assessment: - Stakeholders impact - IFC anticipates the project will provide up to US$150 million in long-term financing for climate-smart and environmentally friendly projects such as renewable energy, green buildings, energy efficiency, and water conservation and waste water treatment projects. Expected impact includes: i) increase in accessibility of financing for green projects to China Bank's customers; ii) improvement of China Bank's employees' skills related to climate change financing; and iii) provision of longer tenor funding and new instrument for China Bank to access capital markets. - Environmental and/or social impact - IFC anticipates the project will reduce CO2 emissions in the Philippines. The expected reduction on sub-borrowers' emissions and technical data on reductions in CO2 emissions will be collected and quantified through IFC's CAFI tool. Market Impact Assessment: IFC anticipates that the project will have the following market impacts: 1) it opens the market for climate finance and ultimately attracts more financial institutions into this space (competitiveness); and 2) it supports China Bank's contribution to the country's objective of tackling climate change challenges (sustainability) by adopting environmental sustainability principles and developing a new asset class that promotes greater market sustainability.

Investment Description
  • International Finance Corporation (IFC)
Private Actors
Contact Information

China Banking Corporation
Mr. Ryan Martin L. Tapia
President of China Bank Capital Corporation
+632-230-6602
rmltapia@chinabank.ph
28/F BDO Equitable Tower, 8751 Paseo de Roxas, Makati City 1226, Philippines
www.chinabank.ph

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/