Original disclosure @ IFC website
Updated in EWS Jan 10, 2020
Disclosed by Bank Mar 20, 2019
Can you contribute information about this project?
Contact the EWS Team
According to the bank document, IFC proposes to provide a long-term debt funding of US$80 million equivalent (including US$50 million equivalent from IFC’s own account and US$30 million equivalent from syndication participants) with tenor up to 5-year to China Foundation for Poverty Alleviation (CFPA) Microfinance Management Co., Ltd (“CFPA MF”).
The debt funding targets to help expand CFPA MF’s lending to women micro-borrowers to support the growth of the cultural, tourism, and creative service industries in Gansu Province.
The proposed investment is an up to US$80 million financing package to CFPA MF.
The proposed financing package consists of an A loan (IFC): US$50 million with tenor up to 5-year and a Syndicated Loan US$30 million with tenor up to 5-year, to be provided by other financial institutions.
CFPA MF was founded by China Foundation for Poverty Alleviation (“CFPA Foundation”) in 2008. The latest shareholding structure of the Company is Ant Financial (34.2%), TPG (19.8%), CFPA Foundation (18.4%), IFC (10.6%), Sequoia Capital (7.6%), Ningbo Renda (5.5%), and High Impact Capital (3.9%).
CFPA MF is headquartered in Beijing and has the operation in 21 provinces in China. The Project specifically targets to support CFPA MF’s lending activities in Gansu Province, China.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||CFPA Microfinance Management Co Ltd||Client||-|
|-||-||-||-||China Foundation for Poverty Alleviation Organization||Parent Company||-|
|-||-||-||-||High Impact Capital Advisors||Investor||-|
|-||-||-||-||Ningbo Renda Hardware Co.,Ltd||Investor||-|
1/ Project Contact
CFPA Microfinance Management Co., Ltd.
Contact: Mr. Dongwen Liu
Phone number: +86-10-88578681
Address: 18th Floor, Building A, Huangcheng International Center,
138th St. Andingmenwai, Dongcheng District, Beijing, China
2/ The IFC Contact
General IFC Inquiries
Address: 2121 Pennsylvania Avenue, NW
Washington DC 20433
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/