Beijing, June 5, 2013—IFC, a member
of the World Bank Group, is providing a $70 million loan to China Everbright
International Limited, a leading investor and operator in environmental
friendly businesses, to build three water plants in China. The project
will further develop China’s water sector and promote water efficiency
in the country.
China is facing a severe water shortage
caused by its fast-growing economy, large population, and rapid urbanization.
The Chinese government has adopted a multifaceted approach that combines
economic and environmental regulations at the national and provincial levels
to reduce water pollution and improve efficiency over the years. These
measures have resulted in improved wastewater treatment and led to the
emergence of several internationally competitive Chinese water companies
that have started expanding overseas.
Everbright International will use IFC’s
financing to expand environmental water business by building a wastewater
treatment plant, a pioneering wastewater reuse plant and a ground water
plant. Upon completion, the first plant can treat 150,000 cubic meter of
wastewater every day, while the second plant can recycle 20,000 cubic meter
of water a day.
“IFC’s financing and global network
in the water industry will help us better integrate our businesses across
the supply chain,” said Everbright International Chief Executive Officer
Chen Xiaoping. “With IFC’s help, we will adopt global best practices
that are important for making our company more international.”
Listed on the Hong Kong stock exchange,
Everbright International invests, builds and operates 24 water-related
projects, 22 waste-to-energy plants, six hazardous solid waste landfill
projects, and 18 alternative energy projects in China.
"In a world where almost 800 million
people don't have access to clean water, IFC is helping China and other
countries improve water security,” said IFC Executive Vice President and
CEO Jin-Yong Cai. "This investment will support the establishment
of state-of-the-art water facilities, help make the China's water sector
more efficient, and promote global best practices
In China, IFC has financed four water
projects, with two on wastewater treatment, one on water supply, and the
remaining one on seawater desalination.
IFC, a member of the World Bank Group,
is the largest global development institution focused exclusively on the
private sector. We help developing countries achieve sustainable growth
by financing investment, mobilizing capital in international financial
markets, and providing advisory services to businesses and governments.
In FY12, our investments reached an all-time high of more than $20 billion,
leveraging the power of the private sector to create jobs, spark innovation,
and tackle the world’s most pressing development challenges. For more
information, visit www.ifc.org.