Beijing, February 25, 2004—The International
Finance Corporation, the private sector arm of the World Bank Group, has
agreed to invest $2 million (RMB 16.5 Million) equity in AnJia Group Holdings.
The Shanghai-based company is a leader in China’s rapidly growing mortgage
origination and servicing industry. Venture TDF China, a current shareholder
in AnJia, has agreed to invest an additional $1 million. IFC’s investment
is the first stage in AnJia’s current round of financing.
The project will help home buyers gain access to better housing finance
services in China. IFC’s investment will help AnJia achieve higher standards
of performance, expand its operations, and set a model for the development
and standardization of the mortgage origination and servicing industry
Shanghai has been leading the rapid development of the private housing
market in China, establishing the opportunity for mortgage companies and
banks to expand operations through resale home mortgages. The emergence
of independent third party originators such as AnJia plays a vital role
in facilitating the healthy development of the mortgage industry. Through
innovations in mortgage origination and servicing, AnJia provides banks
with critical mortgage sourcing capabilities that will help them better
assess and control home loan transaction risk AnJia strives to make
mortgage lending in China more efficient, secure, and accessible.
“As a global leader in supporting mortgage finance institutions in developing
countries, IFC brings not just capital to this project but broad experience
and leading industry expertise that can help AnJia to set industry standards
and stay ahead of changing demands in a rapidly developing market.” said
Javed Hamid, IFC director of East Asia and Pacific. During IFC’s last
fiscal year, it committed over $100 million for projects that reinforce
links between the housing sector and the financial markets.
Alan Zhang, AnJia’s chairman and founder, said, “It is significant that
IFC, the premier private sector investor in developing economies, has chosen
to participate in AnJia’s future growth with this investment. It exhibits
a recognition of the huge potential of China’s housing finance sector
and AnJia’s established leadership in the emerging mortgage finance industry.
We are very pleased to have IFC’s expertise and support in our determined
drive to provide the most efficient, secure, and comprehensive housing
finance solutions to consumers in Shanghai and elsewhere in China.”
Venture TDF China is a venture capital firm that targets market leaders.
It invests in companies at different stages of development, focusing on
the sectors in China that have strong and sustainable growth prospects.
These include information technology, media, telecommunications and
financial services. Venture TDF China is a value-added investor that
leverages its capabilities, resources and network in Greater China, Singapore
and the United States.
The mission of IFC (www.ifc.org)
is to promote sustainable private sector investment in developing countries
helping to reduce poverty and improve people’s lives. IFC finances private
sector investments in the developing world, mobilizes capital in the international
financial markets, helps clients improve social and environmental sustainability,
and provides technical assistance and advice to governments and businesses.
From its founding in 1956 through FY03, IFC has committed more than $37
billion of its own funds and arranged $22 billion in syndications for 2,990
companies in 140 developing countries. IFC’s worldwide committed portfolio
as of FY03 was $16.8 billion for its own account and $6.6 billion held
for participants in loan syndications.