Lionbridge Green (IFC-41378)

Countries
  • China
Geographic location where the impacts of the investment may be experienced.
Specific Location
Nation-wide
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
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
Apr 15, 2019
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
LIONBRIDGE FINANCING LEASING (CHINA) CO LTD
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 20.00 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.
Loan Amount (USD)
$ 20.00 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)
$ 20.00 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 Jan 10, 2020

Disclosed by Bank Feb 25, 2019

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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 bank document, Lionbridge is established in 2012 and led by a group of leasing experts with extensive industry experience and provides financial leasing and extended operational services to micro/small-enterprises and individuals primarily in the sector of commercial vehicle leasing.

By the end of September 2018, the outstanding leasing receivables of Lionbridge reached RMB 12.72 billion (US$1.9 billion equivalent) which was primarily relating to truck leasing.

According to the management account of the financial statement as of end September 2018, the total asset of Lionbridge was RMB 16.9 billion, and the total equity was RMB 2.7 Billion. 

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

The proposed project consists of a three year up to US$20 million USD loan from IFC’s own account and potential mobilization.

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.

Bain Capital acquired the Company in 2014 and is now the controlling shareholder holding 61.76% stake in Lionbridge. The remaining stake is held by Baidu.com (11.11%), Sunshine insurance (11.11%) and the management team (16.02%).

Bain Capital was founded in 1984 and is one of the world’s leading private equity and alternative asset management company with AUM of approximately US$105 billion. Bain Capital’s investment in China mainly focused on the following sectors including consumer products, healthcare, TMT, and financial institutions & services. 

Baidu, Inc., incorporated in 2000, is a Chinese multinational technology company specializing in Internet-related services and products and artificial intelligence. It is one of the largest AI and internet companies in the world. 

Sunshine Insurance Group founded in 2005 is one of the largest insurance companies in China 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Baidu.com Investor -
- - - - Bain Capital Investor -
- - - - Lionbridge Financing Leasing (China) Co., Ltd. Client -
- - - - Sunshine insurance 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/Project Contact

Lionbridge Financing Leasing (China) Co., Ltd 
Mr. Jun Wan - CEO 
+86-10-56700777 
wanjun@lionbridgecapital.cn 
Chaoyang District, Beijing.100102 
Websitehttp://www.sqcapital.cn/ 

2/ IFC Contact

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

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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