China, People's Republic of: PRC: LOAN PROGRAM FOR CLEAN BUS LEASING - Industrial Bank Financial Leasing Co (IBFL)

Project Name PRC: LOAN PROGRAM FOR CLEAN BUS LEASING - Industrial Bank Financial Leasing Co (IBFL)
Project Number 46928-034
Borrower / Company Industrial Bank Financial Leasing Co. Ltd
Country / Economy China, People's Republic of
Location
Type or Modality of Assistance
3145 Loan Ordinary capital resources USD 100.00 million Committed
Strategic Agendas Inclusive economic growth
Drivers of Change
Sector / Subsector

Finance /

Gender No gender elements
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Portfolio Management Division, PSOD
Responsible ADB Officer Colquhoun, Zarema
Project Sponsor(s)
Description PRC: LOAN PROGRAM FOR CLEAN BUS LEASING - Industrial Bank Financial Leasing Co (IBFL)
Objectives and Scope

The program will offer long-term funding to up to five financial leasing companies (FLCs) to support the leasing of buses running on cleaner fuel, hybrid buses with fuel-saving rates of more than 10%, electric buses, and conventional buses that meet the most advanced emission standard.

.The program will also fund information technology (IT) systems that increase the fleet operating efficiency of urban, suburban, and intercity bus services.
Status of Development Objectives Development results are satisfactory. The Program contributed to (i) better access to finance for FLCs in the PRC, (ii) an increase in the number of clean buses, (iii) broader access to finance for bus operators in less-developed inland or western provinces of the PRC, and (iv) environmental sustainability.
Status of Operation/Construction on-going
Linkage to Country/Regional Strategy The program is fully in line with the priorities of ADB's country partnership strategy, 2011-2015 for the PRC. It is aligned with the strategy emphasis on mainstreaming climate change considerations and support for green finance. The program supports financial sector development, one of the private sector operational focuses identified in the country partnership strategy. It also supports the implementation of the PRC's twelfth Five-Year Plan, which accentuates resource conservation and environmental protection and attaches top priority to improving energy efficiency, reducing pollution emissions, and developing cleaner and renewable energy.
Safeguard Categories
Environment FI
Involuntary Resettlement FI
Indigenous Peoples FI
Summary of Environmental and Social Aspects
Environmental Aspects The program will have no or only minimal environmental impacts.
Involuntary Resettlement The program will fund the leasing of buses running on cleaner fuels, buses that are energy-efficient or use new energy sources, and conventional buses that meet the most advanced environmental regulatory thresholds for emissions. The project will not cause involuntary resettlement impact.
Indigenous Peoples The program will fund the leasing of buses running on cleaner fuels, buses that are energy-efficient or use new energy sources, and conventional buses that meet the most advanced environmental regulatory thresholds for emissions. The project will not impact on Indigenous Peoples (IPs) or IP communities.
Stakeholder Communication, Participation, and Consultation During program preparation, ADB had consultation or discussions with (i) five FLCs, (ii) urban or intercity public transport operators ; (iii) the state tourism asset holding company in Hubei Province, (iv) transport IT system developer in Shanghai; (v) a bus manufacturer based in Wuhan; (vi) the China Banking Regulatory Commission, the Ministry of Finance, and local government departments; (vii) potential cofinancing partners; and (viii) a public transport operator in France that may be a potential partner in providing technical assistance.
Timetable for assistance design, processing and implementation
Concept Clearance 23 Jul 2012
Credit Committee Meeting 01 Oct 2012
Approval 15 Jan 2013
PDS Creation Date 03 Apr 2018
Last PDS Update 03 Apr 2018
Project Page https://www.adb.org//projects/46928-034/main
Request for Information http://www.adb.org/forms/request-information-form?subject=46928-034
Date Generated 05 June 2023
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Source URL: https://www.adb.org/projects/46928-034/main