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| Borrower/Equity Investment Name | BANK OF HANGZHOU CO., LTD. | |||||||||
| Country | China,People'sRep.of | |||||||||
| Location | PRC | |||||||||
| Project Number | 40909-01 | |||||||||
| Approval Number | 7240 | |||||||||
| Type of ADB Assistance |
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| Sector/Subsector | Finance /Banks | |||||||||
| Thematic Classification | Private Sector Development Economic growth |
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| Responsible ADB Department | Private Sector Operations Department | |||||||||
| Responsible ADB Division | Capital Markets and Financial Sectors Division | |||||||||
| Responsible ADB Officer | Jonathan Starbecker | |||||||||
| Description | The Project involves an equity investment in a City Commercial Bank in the PRC (PRC Bank) of up to $30 million (or CNY equivalent) for approximately 5% of the total outstanding shares.
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| Objectives and Scope | An ADB direct equity investment in a PRC Bank, alongside an international strategic investor, will (i) enhance corporate governance and the implementation of safeguards for the PRC Bank, (ii) offer the comfort as an "honest broker" to help the PRC Bank, successfuly forward its planned reforn and expansion efforts in relationship with other shareholders and stakeholders, and (iii) demonstrate feasibility and provide market-benchmarks for, as well as help catalyze similar investments in other City Commercial Banks in the PRC.
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Safeguard Categories
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| Environment | FI | |||||||||
| Resettlement | C | |||||||||
| Indigenous People | C | |||||||||
| Timetable for assistance design, processing and implementation | ||||||||||
| Concept Clearance | 04 Nov 2005 | |||||||||
| Due Diligence Mission | 15 Feb 2006 to 16 Feb 2006 | |||||||||
| Private Sector Credit Committee Meeting | 30 Jun 2006 | |||||||||
| Board Approval | 27 Jul 2006 | |||||||||
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