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

Countries
  • China
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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
Mar 19, 2020
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
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
  • 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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 984.71 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.
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, this amount is converted to USD ($) on the date of disclosure. 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, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents 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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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.

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

Province              NDB Loan (RMB Billion)

Hubei                   3.5

Guangdong           2.1

Henan                  1.4

Total                     7.0


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/ 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

How it works

How it works