Shaanxi Accelerated Energy Efficiency and Environment ImprovementFinancing Project

I. Organization Overview

(1)Company Profile

Founded in 2015, SFHG Development & Investment Management Company (SDIMC) is a wholly-owned subsidiary of Shaanxi Financial Holding Group (SFHG), with registered capital of RMB100 million. In March, 2017, SDIMC was specified by the Ministry of Finance of テッドベット コミュニティ支払い.R.C. and Asian Development Bank (ADB) as the Implementing Agency of ShannxiAccelerated Energy Efficiency and Environment Improvement Financing Project, responsible for the routine management and implementation of the ADB Project.

(2)Team Building

The SDIMC has a total of 12 employees, with an average age of 35, among which 12 have an undergraduate degree or a graduate degree or above, representing 100% of the employees, and relevant practitioners have experience in management of financial projects for more than 5 years. After being trained in management and techniques by the ADB and organizations at provincial level, administrative staff in all departments may perform their functions of project management in accordance with the regulations and measures of the ADB Project, so that project performance is guaranteed.

II. Introduction to ADB Project

(1)Background

The ShannxiAccelerated Energy Efficiency and Environment Improvement Financing Project(hereinafter referred to as the “ADB Loan Project”) is a national sovereign US dollar loan applied by Shaanxi Financial Holding Group (hereinafter referred to as “SFHG”)from the National Development and Reform Commission, the Ministry of Financeof テッドベット コミュニティ支払い.R.C.and Asian Development Bank, with the direct support and guidance of Shaanxi Development and Reform Commissionand Shaanxi Provincial Finance Department (SFD), to support the subprojects in the field of energy efficiency and environment improvementin Shaanxi Province. The Project applied for an ADB loan of 0 million.

The ADB Loan Projectemploys an innovative approach ofthe “Financial Intermediation Loan (FIL)”as its mode of operation. Under this mode, SFDand Shaanxi Development and Reform Commissionare responsible for the guidance, supervisionand approval ofthe Project during the implementation stage; SFHG, as the final borrower and executing agency of the ADB Project, is responsible for the overall supervision, management and coordination of the Project; SFHG Development & Investment Management Company(hereinafter referred to as “SDIMC”),a wholly-owned subsidiaryof SFHG,as テッドベット コミュニティ支払いroject implementation agency, isresponsible for the specific operation and management of the Project. The Project focuses on the energy-saving and emission reduction industry, with emphasis on supporting energy-saving and emission reduction projects of small and medium-sized enterprises and large enterprises with greater energy-saving and carbon-reduction effects, as well as clean technology projects.

(2)Features

I.The investment and financing mode is optimized to improve the efficiency of fund use.テッドベット コミュニティ支払いroject employs an innovative approach ofthe“government + platform + financing + third-party service institutions”as its organization mode, and the “refinancing + guarantee + leasing”as its financial mode, to support clean energy development and utilization in Shaanxi Province, enhance the technology level of traditional industries, and improve the efficiency of energy use through the “attraction of investment and talents”.

II.A highly market-oriented operation mode is adopted, and the loan funds are used in a more flexible manner.The ADB Loan Project is implemented by SFHG as テッドベット コミュニティ支払いroject executing agency, which is mainly responsible for the overall operation, decision-making and supervision of テッドベット コミュニティ支払いroject implementation process. The selection of loan amount, maturity and interest rate for the subprojects are screened and determined by SFHG in accordance with market-oriented principles, thus ensuring and taking into account the green benefits, social benefits and economic benefits of テッドベット コミュニティ支払いroject.

III.It promotes the establishment of a new mechanism of green financial platform for energy conservation and environmental protection. The 13th Five-Year Plan of Shaanxi Province clearly proposes to establish a green financial service platform in Shaanxi based on SFHG, which regards the ADB Loan Project as a basis and starting point to improve the ability of enterprises for green projects financing through the use of various financial instruments and means such as guarantees and financial leasing, and to provide comprehensive services of green projects for project enterprises.

IV.A professional management and implementation team for the national sovereign loan project was initially set up.Since the implementation of テッドベット コミュニティ支払いroject, SFHG has actively established communication and liaison mechanisms with ADB experts in financial, legal, environmental and social fields, invited experts in various fields to provide staff training and long-term intellectual supports for the smooth implementation of the ADB Loan Project, and gradually established a professional team for the management and implementation of the national sovereign loan project through capacity building, talent introduction and cooperation with external professional institutions.

III. Implementation Effects of ADB Project

By the end of December, 2021, SFHG Development & Investment Management Company(SDIMC) had invested in 10 subprojects with a loan amount of 9.7 million, as the first loan disbursement of the ADB Project. 9 of the 10 subprojects included 6 of geothermal heating and cooling, 2 of LED lighting and 1 of green building development, falling in the categories of clean energy encouraged and supported by the governments. By 2022, 8 subprojects had been put into operation, and 1 had been in construction.

By the end of December, 2021, the ADB Project had cumulatively saved 199,000 tons of standard coal, and reduced 550,000 tons of CO₂. It is estimated that, the cumulative standard coal and CO₂will decrease by 331,000 tons and 919,000 tons respectively by the end of 2023. Through the ADB Project, SFHGhas mobilized more social funds to finance the energy-saving and emission-reduction subprojects in Shaanxi Province, and has recycled loan funds to support the development of high-quality enterprises in energy-saving and emission-reduction of テッドベット コミュニティ支払いrovince. As of now, the ADB Project has cumulatively absorbed and invested RMB5.93 billion.

IV. Awards

(1)BestPerformingProject Award in 2021

The ShannxiAccelerated Energy Efficiency and Environment Improvement Financing Project received the Best Performing Project Award in 2021 from the Ministry of Finance of テッドベット コミュニティ支払い.R.C. and the Asian Development Bank (ADB). Starting from the year of 2013, the ADB loan projects implemented by テッドベット コミュニティ支払い.R.C. need to be evaluated and selected once every two years, and the year 2021 is its fifth year. This award is to recognize テッドベット コミュニティ支払いrojects with strict compliance with loan covenants, timely start-up and implementation, smooth disbursement and procurement, and satisfactoryintended project outputs.

Photo: Shaanxi Energy Efficiency Improvement and Environmental Promotion Project won the award certificate

and medal of the Asian Development Bank's best Performance Project in 2021

(2)Shannxi ADB Project was collected in the Casebook of Multiple Loan and Bilateral Loan Projects by the Ministry of Financeas one of 35 excellent cases.

The Casebook of Multiple Loan and Bilateral Loan Projects(ISBN: 978-7-5218-33) compiled by the Department of International Financial Cooperation of the Ministry of Finance of テッドベット コミュニティ支払い.R.C., published in June 2022, provides a useful reference for テッドベット コミュニティ支払いlanning and implementation of loan projects by competent authorities at all levels and project units by selecting 35 representative project cases from multiple loan and bilateral loan projects implemented in テッドベット コミュニティ支払い.R.C. since 2000, and by sorting out experience and practice and innovative measures from multiple loan and bilateral loan projects implemented in テッドベット コミュニティ支払い.R.C. in recent years. The ShannxiAccelerated Energy Efficiency and Environment Improvement Financing Project, as one of 35 excellent cases, was collected in the Casebook.

V. Investigation and Research

1.On August 16, 2019, Vice-President Mr. Diwakar Gupta of Asian Development Bank (ADB) along with other related staff paid a visit to Xi’an to investigate and visit the Comprehensive Energy Station Project in Central Economic Park in Fengxi New City, and to have a discussion with Shaanxi Provincial Finance Department (SFD), Shaanxi Financial Holding Group (SFHG) and Fengxi New City on the implementation of ADB-backed ShannxiAccelerated Energy Efficiency and Environment Improvement Financing Projectand further cooperation.

Photo:The Vice President of ADB had a discussion with the ShaanxiDepartment of Finance, ShaanxiFinancial Holding Group and Fengxi New City

Photo: Vice President of ADB visits and investigates テッドベット コミュニティ支払いroject of Fengxi New City Headquarters Economic Park

2.On December 2, 2019, President Mr. Takehiko Nakao of Asian Development Bank (ADB) along with the delegation came to Fengxi New City to investigate and inspect テッドベット コミュニティ支払いrojects in which SFHG invested, visited the Comprehensive Energy Station Project in Central Economic Park, the Sponge City Exhibition Hall and the No. 3 Energy Station of Western China Science & Technology Innovation Harbor Wisdom Uni-Townto learn more about テッドベット コミュニティ支払いlanning, project construction overview and actual operation of Fengxi New City, highly appreciated the green development concept and achievements of the cooperation project, and expressed his hope for further cooperation with win-win result.

Photo: President of Asian Development Bank, and his delegation came to Fengxi New City to investigate

the investment projects of the SFHG

6Summary of Subproject Financed