China, People's Republic of: Asset-Backed Securitization for Expressway Financing and Corporate Debt Restructuring in Yunnan Province

Sovereign Project | 41181-012 Status: Closed


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Project Name Asset-Backed Securitization for Expressway Financing and Corporate Debt Restructuring in Yunnan Province
Project Number 41181-012
Country China, People's Republic of
Project Status Closed
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 7052-PRC: Asset-Backed Securitization for Expressway Financing and Corporate Debt Restructuring in Yunnan Province
Technical Assistance Special Fund US$ 150,000.00
Strategic Agendas Inclusive economic growth
Drivers of Change Knowledge solutions
Sector / Subsector

Finance - Infrastructure finance and investment funds

Gender Equity and Mainstreaming
Project Rationale and Linkage to Country/Regional Strategy

Project Outcome

Description of Outcome
Progress Toward Outcome To be determined after the consultants have been fielded.
Implementation Progress
Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues)

No TA Agreement Letter was sent in view of the small amount of this TA and in the absence of any unusual obligations on the part of the PRC Government.

The individual International ABS Specialist/Team Leader was engaged on 27 Feb. 08. Recruitment for a National Debt Restructuring Specialist was cancelled as the potential candidate's counteroffer was deemed unacceptable by EARG.

Delays are being experienced due to slow progress in regulatory reforms for the ABS market as well as changes in the expressway investment pipeline of ADB in Yunnan where the pilot project will be conducted.

The ongoing global financial crisis has halted the process of establishing a regulatory framework for securitization in the PRC. However there are still sporadic attempts to revive the securitization. EAFM will discuss with the EA and plan next steps for TA implementation.

A major change in scope and implementation arrangements was approved by VP02 on 9 December 2009. The change is to support a local bond issuance of the municipality of Kunming in the province of Yunnan. The TA will now facilitate the issuance of local bond instead of the issuance of asset backed securites (ABS) of expressway companies.

ADB sponsored the Development Research Center of the State Council of the PRC to hold a workshop on "Local Government Finance and Risk Management International Experiences & Lessons" in Beijing, PRC on the first week of December.

The workshop was attended by senior members of various government stakeholders such as Ministry of Finance, National Development and Reform Committee, People's Bank of China. Non-government stakeholders such as representatives from China Development Bank, Cinda Asset Management Company and Huaxia Bank also participated in the workshop sessions.

Geographical Location East Asia

Summary of Environmental and Social Aspects

Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design
During Project Implementation

Business Opportunities

Consulting Services The TA will engage one international and two national consultants for a total of 6 person-months including the team leader and international ABS specialist (1.5 person-months), national ABS specialist (3 person-months), and national debt restructuring specialist (1.5 person-months). The consultants will be selected and engaged on an individual basis in accordance with ADB's Guidelines on the Use of Consultants.

Responsible Staff

Responsible ADB Officer Seung Min Lee
Responsible ADB Department East Asia Department
Responsible ADB Division Public Mgt, Financial Sector and Regional Coop Division, EARD
Executing Agencies
Yunnan Provincial Department of Transport
Lu Yun Feng
1 Western City Ring Road, Kunming 650031, PRC


Concept Clearance 18 Dec 2007
Fact Finding 11 Mar 2007 to 25 Mar 2007
Approval -
Last Review Mission -
PDS Creation Date 14 Feb 2008
Last PDS Update 19 Sep 2013

TA 7052-PRC

Approval Signing Date Effectivity Date Closing
Original Revised Actual
11 Jan 2008 - 11 Jan 2008 30 Jun 2008 31 Dec 2010 -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
150,000.00 0.00 50,000.00 0.00 0.00 0.00 200,000.00 11 Jan 2008 106,360.16

Safeguard Documents See also: Safeguards

Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

None currently available.

Evaluation Documents See also: Independent Evaluation

None currently available.

Related Publications

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