Muyuan ASF (IFC-43279)

Countries
  • China
Geographic location where the impacts of the investment may be experienced.
Specific Location
Anhui, Henan, Heilongjiang, Inner Mongolia, and Shanxi 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
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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."
Borrower
MUYUAN FOODS CO., LTD.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
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)
$ 141.88 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)
$ 141.88 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)
$ 300.00 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.
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 12, 2024

Disclosed by Bank Apr 21, 2020

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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, "this loan will support Muyuan in the construction of 10 new pig farm facilities in Anhui, Henan, Heilongjiang, Inner Mongolia, and Shanxi provinces (“the project”) that are primarily in frontier regions of China. The proposed IFC investment is an A loan of up to CNY1 billion (approximately US$150 million equivalent) to six operating subsidiaries of Muyuan:

(i) Sheqi Muyuan Farming Co., Ltd.;

(ii) Heilongjiang Lindian Muyuan Farming Co., Ltd.;

(iii) Inner Mongolia Horqin Left-Wing Central Banner Muyuan Modern Farming Co., Ltd.;

(iv) Luyi Muyuan Farming Co., Ltd.;

(v) Anhui Fengtai Muyuan Farming Co., Ltd.; and

(vi) Shanxi Xiaxian Muyuan Farming Co., Ltd."

It is part of IFC Agribusiness’s African Swine Flu (ASF) Regional Recovery Program to help restore pork supply and normalize food costs for consumers by supporting Muyuan and Muyuan is an existing IFC investee. 

"IFC has an equity investment in Muyuan (committed in 2010, project #29089) and has processed three loans, (in 2012, #32156; 2014, #33505 and 2016, #38272)." 

This project or financing is part of IFC's COVID-19 response, as stated on the IFC website. You can find additional information at: https://www.ifc.org/wps/wcm/connect/news_ext_content/ifc_external_corporate_site/news+and+events/covid-19/covid-19-projects.

 

 

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

The proposed IFC investment is an A loan of up to CNY1 billion (approximately US$150 million equivalent) to six operating subsidiaries of Muyuan. 

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.

Founded in 1992, Muyuan Foods Co., Ltd. is publicly listed on the Shenzhen Stock Exchange since January 2014.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Anhui Fengtai Muyuan Farming Co., Ltd. Subsidiary -
- - - - Heilongjiang Lindian Muyuan Farming Co., Ltd. Subsidiary -
- - - - Inner Mongolia Horqin Left Wing Central Banner Subsidiary -
- - - - Luyi Muyuan Farming Co., Ltd. Subsidiary -
- - - - Muyuan Foods Co., Ltd Client -
- - - - Shanxi Xiaxian Muyuan Farming Co., Ltd. Subsidiary -
- - - - Sheqi Muyuan Farming Co., Ltd. Subsidiary -

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

Muyuan Foods Co., Ltd.
Ms. Zhang Jingpei
Manager, Financing Department
+86 377 66100053
zhangjingpei@muyuanfoods.com
Longsheng Industrial Park, Wolong District, Nanyang, Henan Province, 474360 China
http://www.muyuanfoods.com/

2/ IFC Contact

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

Longsheng Industrial Park

Wolong District, Nanyang

Henan Province, 474360 China        

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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