China, People's Republic of: PRC: BANK OF CHINA (initially Project Mandarin)

Nonsovereign Project | 38917-014

Summary

Project Mandarin involves an equity investment in a state-owned commercial bank in the People's Republic of China, i.e. Bank of China. ADB is a minority investor.

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Project Name PRC: BANK OF CHINA (initially Project Mandarin)
Project Number 38917-014
Borrower/Company BANK OF CHINA LIMITED
Country China, People's Republic of
Location PRC
Approval Number 7219
Type or Modality of Assistance
7219 Equity USD 75.00 million Committed
Strategic Agendas
Drivers of Change
Sector / Subsector Finance - Banking systems and nonbank financial institutions
Gender Equity and Mainstreaming
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Private Sector Financial Institutions Division
Responsible ADB Officer Janette A. Hall
Project Sponsor(s)
Description Project Mandarin involves an equity investment in a state-owned commercial bank in the People's Republic of China, i.e. Bank of China. ADB is a minority investor.
Objectives and Scope ADB's investment objectives were to promote the ongoing liberalization and privatization process of the PRC commercial banking sector by: (i) enhancing the privatization process through the participation of other investors into the SOCBs in general (strategic, institutional and individual) and in the identified state owned commercial bank in particular; and (ii) introducing best practice corporate governance in the PRC banking sector.
Linkage to Country/Regional Strategy
Status of Development Objectives Developmental objectives were achieved.
Material Changes None.
Safeguard Categories
Environment FI
Involuntary Resettlement C
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
Timetable for assistance design, processing and implementation
Concept Clearance 17 May 2004
Due Diligence 16 Sep 2005
Credit Committee Meeting 01 Sep 2005
Approval 04 Oct 2005
PDS Creation Date 28 Aug 2006
Last PDS Update 30 Sep 2014
Title Document Type Document Date
Equity Investment Bank of China Ltd. Extended Annual Review Report Extended Annual Review Reports Dec 2010
Equity Investment in Bank of China Ltd Reports and Recommendations of the President Sep 2005

Safeguard Documents

See also: Safeguards

No documents found.

Evaluation Documents

See also: Independent Evaluation
Title Document Type Document Date
People’s Republic of China: Equity Investment in Bank of China Project Performance Evaluation Reports Dec 2012

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