China, People's Republic of : Maxwealth Financial Leasing Micro, Small and Medium-Sized Enterprises Finance for COVID-19 Response Project
The project entails the Asian Development Bank providing long-tenor financing to Maxwealth Financial Leasing Co., Ltd. for lease finance to micro, small and medium-sized enterprises in the People's Republic of China, which have been adversely impacted by the COVID-19 pandemic. This will enable the company to provide longer-tenor lease finance to underserved segments, improve its asset-liability profile, and diversify its funding sources.
Project Details
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Project Officer
Huang, Biao
Private Sector Operations Department
Request for information -
Approval Date
14 October 2022 -
Country/Economy
China, People's Republic of -
Sector
- Finance
| Project Name | Maxwealth Financial Leasing Micro, Small and Medium-Sized Enterprises Finance for COVID-19 Response Project | ||||||||||
| Project Number | 56128-001 | ||||||||||
| Borrower / Company | Maxwealth Financial Leasing Co., Ltd. |
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| Country / Economy | China, People's Republic of |
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| Location | Nation-wide | ||||||||||
| Type or Modality of Assistance |
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| Operational Priorities | OP1: Addressing remaining poverty and reducing inequalities OP2: Accelerating progress in gender equality |
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| Sector / Subsector | Finance / Small and medium enterprise finance and leasing |
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| Gender | Effective gender mainstreaming | ||||||||||
| Responsible ADB Department | Private Sector Operations Department | ||||||||||
| Responsible ADB Division | Private Sector Financial Institutions Division | ||||||||||
| Responsible ADB Officer | Huang, Biao | ||||||||||
| Project Sponsor(s) | |||||||||||
| Description | The project entails the Asian Development Bank providing long-tenor financing to Maxwealth Financial Leasing Co., Ltd. for lease finance to micro, small and medium-sized enterprises in the People's Republic of China, which have been adversely impacted by the COVID-19 pandemic. This will enable the company to provide longer-tenor lease finance to underserved segments, improve its asset-liability profile, and diversify its funding sources. | ||||||||||
| Objectives and Scope | |||||||||||
| Linkage to Country/Regional Strategy |
| Safeguard Categories | |
|---|---|
| Environment | FI-C |
| Involuntary Resettlement | FI-C |
| Indigenous Peoples | FI-C |
| Summary of Environmental and Social Aspects | |
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| Environmental Aspects | |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| Stakeholder Communication, Participation, and Consultation | |
| Timetable for assistance design, processing and implementation | |
|---|---|
| Concept Clearance | 01 Aug 2022 |
| Credit Committee Meeting | 01 Aug 2022 |
| Approval | 14 Oct 2022 |
| Last PDS Update | 18 Oct 2022 |
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.
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| Title | Document Type | Document Date |
|---|---|---|
| Maxwealth Financial Leasing Micro, Small and Medium-Sized Enterprises Finance for COVID-19 Response Project: Report and Recommendation of the President | Reports and Recommendations of the President | Sep 2022 |
| Maxwealth Financial Leasing Micro, Small and Medium-Sized Enterprises Finance for COVID-19 Response Project: Initial Poverty and Social Analysis | Initial Poverty and Social Analysis | Jul 2022 |
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
None currently available.
The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.
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