Shaanxi Accelerated Energy Efficiency and Environment Improvement Financing Project (ADB-48452-004)

Regions
  • East Asia and Pacific
Geographic location where the impacts of the investment may be experienced.
Countries
  • China
Geographic location where the impacts of the investment may be experienced.
Specific Location
Shaanxi Province
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
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Completed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
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
Nov 28, 2016
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
Government of People's Republic of China
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • 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)
$ 150.00 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)
$ 150.00 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)
$ 459.00 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.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ ADB website

Updated in EWS Jun 4, 2024

Disclosed by Bank Sep 29, 2016

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

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.

The proposed project will establish a clean energy financing platform (CEFP) to channel finance to clean energy investments in Shaanxi Province. In addition, to support the high-impact energy efficiency and emission reduction initiatives in large enterprises, the platform will also focus on directing investments to small and medium-sized enterprises (SME).

The proposed project to establish a dedicated Green Financing Platform (GFP) to mobilize domestic financing by leveraging ADB loan proceeds for energy efficiency, distributed renewable energy and environment improvement investments in Shaanxi Province.The proposed GFP will offer three complementary financial products: (i) a Debt Financing Facility to provide entrusted loans, (ii) Credit Guarantee Facility to support the mobilization of cofinancing, and (iii) Lease Financing Facility to provide lease financing for purchase of energy efficient industrial equipment. The GFP will partner with two commercial banks active in Shaanxi province to offer entrusted loans and the partner banks are encouraged to provide cofinancing to match at least the ADB loan proceeds. The guarantee facility will provide credit guarantees to technically sound subprojects with high energy saving potential but lacking in collateral to meet the requirement of the commercial banks for providing cofinancing. This facility is likely to be particularly useful for ESCO projects and SME borrowers. SFHG will provide credit enhancement to the guarantees provided by SMEGC by making a cash deposit of not more than 20% of the guaranteed cofinancing loan amount in the beneficiary bank of the guarantee. This will ensure that the guarantee facility will have a minimum leveraging ratio of 5.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

As stated by the ADB, the project is classified as financial intermediary. The subproject selection criteria exclude subprojects that (i) require new land acquisition, (ii) result in labor retrenchment or labor redundancies, or (iii) have adverse impacts on ethnic minority communities.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
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.

As stated by Bloomberg, Shaanxi Finance Holding Group Co. Ltd. operates as an investment holding company. The Company provides financial investment, asset management, equity investment, and other services. Shaanxi Finance Holding Group provides its services throughout China.


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.

Shaanxi Financial Holding Group
ZHLIUWAN@163.COM
21st Floor, West Finance Tower, Xian Semiconductor Industrial Park, 125 Jinye Road, High-tech Zone, Xi'an, Shaanxi Province, China

ACCOUNTABILITY MECHANISM OF ADB
The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main

How it works

How it works