CFPA MFI Gansu Revitalization and Innovation Loan (IFC-41879)

Countries
  • China
Geographic location where the impacts of the investment may be experienced.
Specific Location
Gansu 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
  • 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
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
May 31, 2019
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
CFPA MICROFINANCE MANAGEMENT CO., LTD.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 80.00 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)
$ 80.00 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)
$ 80.00 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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 10, 2020

Disclosed by Bank Mar 20, 2019

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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, 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.

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

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.              

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.

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
- - - - Ant Financial Investor -
- - - - 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 -
- - - - Sequoia Capital Investor -
- - - - TPG Investor -

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

CFPA Microfinance Management Co., Ltd. 

Contact: Mr. Dongwen Liu 

Position: President 

Phone number: +86-10-88578681 

Email: liudongwen@cfpamf.org.cn 

Address: 18th Floor, Building A, Huangcheng International Center,

138th St. Andingmenwai, Dongcheng District, Beijing, China 

Website: https://www.cdfinance.com.cn/ 

2/ The IFC Contact

General IFC Inquiries

IFC Communications

Address: 2121 Pennsylvania Avenue, NW

Washington DC 20433

Telephone: 202-473-3800

Fax: 202-974-4384

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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How it works