Promoting Industrial Park Green and Low Carbon Transition Project (ADB-56181-001)

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.
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
Proposed
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."
Borrower
Government of China - Huaxia Bank
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Climate and Environment
  • Finance
  • Industry and Trade
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)
$ 200.00 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)
$ 200.00 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
Primary Source

Original disclosure @ ADB website

Updated in EWS Aug 14, 2024

Disclosed by Bank May 8, 2024

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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’s website, the Promoting Industrial Park Green and Low Carbon Transition Project (the project) will support the People’s Republic of China’s (PRC) to achieve its commitment to combating climate change through catalyzing financing and strengthening institutional capacity for low carbon transition in carbon intensive sectors. The project is supported by a USD 200 million loan from Asian Development Bank (ADB) to the PRC Ministry of Finance, which is finally onlended to Huaxia Bank (HXB) to leverage domestic commercial co-financing to upscale low carbon transition investments and foster private sector led solutions. HXB, a national commercial bank, will be the financial intermediary (FI) as well as the project executing and implementing agency. The expected beneficiaries include the industrial parks and low carbon transition (LCT) enterprises with access to project financing, the management and employees of the selected industrial parks and enterprises, the people in and around the selected industrial parks in the country, including women and other vulnerable groups. The project’s outcome is low carbon transition investments and climate resilient development in industrial parks enhanced.

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

Loan (Ordinary capital resources): US$ 200.00 million

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.

Huaxia Bank (HXB), a national commercial bank established in 1992, is the fifth stock listed commercial bank in China with a total asset of CNY 3,900 billion. By the end of 2022, HXB has established 44 primary branches and 78 secondary branches in 122 prefecture-level cities nationally with 987 bank outlets. HXB has 39,938 employees with a female percentage of 51.39% and 1,962 of ethnic minority staff.

Huaxia Bank (HXB) will be the financial intermediary (FI) as well as the project executing and implementing agency.


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.

Responsible ADB Officer - Leung, Kang Hang

Responsible ADB Department - Sectors Group

Responsible ADB Division - Finance Sector Office (SG-FIN)

Executing Agencies - Huaxia Bank

No contacts available at the time of disclosure.

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.adb.org/forms/request-information-form

ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals

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.

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