JFLC Green Financing Package (IFC-41668)

Countries
  • China
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
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.
Borrower
JIANGSU FINANCIAL LEASING CO., LTD.
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)
$ 145.00 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)
$ 145.00 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 Jan 30, 2019

Disclosed by Bank Dec 14, 2018


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Project Description

According to IFC website, the proposed investment entails a 3-5 years green financing package to Jiangsu Financial Leasing Co., Ltd. (JFLC), an existing partner of IFC, to support it to further develop green leasing services to small and medium enterprises. The project has expected development impact in the following areas: 

i) Stakeholder impacts: to improve SMEs' access to green financing/leasing, and to increase affordability of green leasing products;

ii) Environmental and social impact: to generate sizable green electricity and to reduce green-house gas emission;

iii) Market standard setting: to promote broader adoption of internationally acceptable green financing principals/standards;

iv) Market demonstration effect: to introduce the first sizable public green financing issued by a SME-focused private sector leasing company in China.

People Affected By This Project

i) Stakeholder impacts: to improve SMEs' access to green financing/leasing, and to increase affordability of green leasing products;
ii) Environmental and social impact: to generate sizable green electricity and to reduce green-house gas emission;
iii) Market standard setting: to promote broader adoption of internationally acceptable green financing principals/standards;
iv) Market demonstration effect: to introduce the first sizable public green financing issued by a SME-focused private sector leasing company in China.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

JFLC has a diversified shareholding structure. Its major shareholders include Jiangsu Transportation Holding Company (together with its two subsidiaries, 39.05%), Bank of Nanjing (21.09%), IFC (6.70%), CITIC Private Equity (6.50%), BNPP Lease (5.11%), and public investors (21.55%).   

Established in 1985, JFLC is a financial leasing company licensed and regulated by China Banking and Insurance Regulatory Commission, is listed in Shanghai Stock Exchange, and has strategic focuses on supporting SMEs and developing environment-friendly leasing business.                                                 

Contact Information

Jiangsu Financial Leasing Co., Ltd.
Office Address: F8-9, F11-19, F25-33, Building 1, Finance Town, No.99 Jialingjiang East Road,          Nanjing, China
Website: http://www.jsleasing.cn/

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/