Luoyang Metro Project (NDB-luoyangmetroproject-c)

Countries
  • China
Geographic location where the impacts of the investment may be experienced.
Specific Location
Luoyang City, Henan 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
  • New Development Bank (NDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
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
The 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
  • Infrastructure
  • Transport
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)
$ 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.
Project Cost (USD)
$ 2,775.00 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
Corporate Actor Documents
Primary Source

Original disclosure @ NDB website

Updated in EWS May 9, 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.

The People’s Government of Henan Province has designed a work plan to expand Luoyang’s metro network. The Luoyang Metro Project (the Project), therefore, is designed to address the traffic congestion challenge and to improve the city’s connectivity.  The Project is in close alignment with the New Development Bank’s mandate of supporting sustainable infrastructure development.

The Project consists of the construction of Luoyang City’s first urban rail line (Line 1). NDB will finance Equipment for Line 1, which includes the equipment necessary to operate Line 1.

The metro will connect the residential areas to the city center and provide easy access to public services, business, commercial centers and cultural sites. It will enable:

(i) increased transport capacity, thus easing congestion on existing roads,

(ii) faster commute and improved mobility,

(iii) enhanced comfort, safety and reliability of traffic in the city,

(iv) improved connectivity contributing to a balanced city spatial development, and

(v) more robust socio-economic development of Luoyang.

 

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

New Development Bank              US$    300 million

Commercial Banks                      US$ 1.311 million

People’s Government of Luoyang  US$ 1.164 million

Total Project Cost                        US$ 2.775 million

 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Luoyang Bearing Science & Technology Co.,Ltd Contractor -

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.

*There is no further contact information disclosed at this stage of the project*

New Development Bank: projects@ndb.int

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How it works