NDB Emergency Assistance Program in Combating COVID-19 (NDB-ndbemergencyassistanc)

Countries
  • China
Where the impacts of the investment may be experienced.
Specific Location
Hubei Provincial Government, Guangdong Provincial Government, and Henan Provincial Government
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
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 19, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
People's Republic of China
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
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, etc.
Investment Amount (USD)
$ 984.71 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported RMB 7000
Converted using 2020-03-19 exchange rate.
Loan Amount (USD)
$ 984.71 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported RMB 7000
Converted using 2020-03-19 exchange rate.
Project Cost (USD)
$ 984.71 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported RMB 7000
Converted using 2020-03-19 exchange rate.
Primary Source

Original disclosure @ NDB website

Updated in EWS Mar 25, 2020


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Project Description

Accoring to the bank document, "The Program will finance the public health expenditures on curbing the outbreak with the objective to help the three local governments to finance the most urgent needs for fighting the spread of virus, to reduce the financing gaps, and to free up fiscal resources amid the outbreak so that the adverse impacts from the outbreak on the local economies can be minimized.

The scope of financing of the Program includes outbreak-related public health expenditures, including already incurred public health expenditures since the outbreak till date, and the expected public health expenditures for onward transmission containment, up to the end of 2020.

The Program will finance the three Chinese provinces that are hit the hardest by the outbreak of COVID-19. The total Loan amount is RMB 7 billion. Disbursement will be one tranche of the total loan amount."

 

Investment Description
  • New Development Bank (NDB)

Province              NDB Loan (RMB Billion)

Hubei                   3.5

Guangdong           2.1

Henan                  1.4

Total                     7.0

Contact Information

1/ NDB Project Team Leader:

Lusha Zhuang
zhuang.lusha@ndb.int

Yang Ji
ji.yang@ndb.int

2/ Borrower

Ministry of Finance of PRC:

Su Han
hansu@mof.gov.cn

3/ Implementing Agency

Hubei Province:

Wei Hua
617981690@qq.com

Guangdong Province:

Hui Guo
huiwb@gdwbo.gov.cn

Henan Province:

Menghui Zhao
hnscztwjc@163.com