The World Bank Report No: ISR6330
Implementation Status & Results
China
China Energy Efficiency Financing (P084874)
Public Disclosure Copy
Operation Name: China Energy Efficiency Financing (P084874) Project Stage: Implementation Seq.No: 4 Status: ARCHIVED Archive Date: 09-Apr-2012
Country: China Approval FY: 2008
Product Line: IBRD/IDA Region: EAST ASIA AND PACIFIC Lending Instrument: Financial Intermediary Loan
Implementing Agency(ies): National Development and Reform Commission, The Export-Import Bank of China, China Huaxia Bank
Key Dates
Board Approval Date 27-May-2008 Original Closing Date 31-Dec-2013 Planned Mid Term Review Date 30-Mar-2012 Last Archived ISR Date 27-Jun-2011
Effectiveness Date 07-Oct-2008 Revised Closing Date 31-Dec-2016 Actual Mid Term Review Date 27-Mar-2012
Project Development Objectives
China Energy Efficiency Financing (P084874)
Project Development Objective (from Project Appraisal Document)
Improve energy efficiency of selected medium and large-sized industrial enterprises in China.
Has the Project Development Objective been changed since Board Approval of the Program?
Yes No
China Energy Efficiency Financing (P098916)
Global Environmental Objective (from Project Appraisal Document)
Reduce adverse environmental impact of Chinese medium and large-sized industrial enterprises on climate.
Has the Global Environmental Objective been changed since Board Approval of the Program?
Yes No
Component(s)
Public Disclosure Copy
Component Name Component Cost
Promotion of EE Financing 9.90
EC Investment Lending 200.00
National Policy Support and Capacity Building 2.80
Project Implementation Support and Reporting 0.80
Overall Ratings
Previous Rating Current Rating
Progress towards achievement of PDO Satisfactory Satisfactory
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The World Bank Report No: ISR6330
Previous Rating Current Rating
Progress towards achievement of GEO Highly Satisfactory Satisfactory
Overall Implementation Progress (IP) Satisfactory Satisfactory
Public Disclosure Copy
Overall Risk Rating Low Low
Implementation Status Overview
The CHEEF Project has reached its half point for project implementation since effectiveness in October 2008. It has made good progress and disbursed more than half of the
allocated IBRD funds. It is playing a significant role in increasing the participating banks' capacity, interests, and confidence in mainstreaming EE financing business line, and leading
Chinese banking sector to financing EE. It is also making important contributions to developing and implementing EE priorities in the 12th Five-Year Plan.
Locations
No Location data has been entered
Results
Project Development Objective Indicators
Indicator Name Core Unit of Measure Baseline Current End Target
Cumulative amount of incremental EC Text Value 0 US$ 577 million 900
investments supported by the project (US$ Date 28-May-2008 31-Dec-2011 31-Dec-2013
million)
Comments
Associated annual energy savings capacity Text Value 0 1.7 millon tons of coal 2.07
(million tons of coal equivalent) equivalent
Date 28-May-2008 31-Dec-2011 31-Dec-2013
Comments
Global Environmental Objective Indicators
Indicator Name Core Unit of Measure Baseline Current End Target
Associated CO2 emissions reduction capacity Text Value 0 4.2 million tons 5.05 million ton of CO2e
Public Disclosure Copy
(million tons of CO2) reduction
Date 01-Oct-2008 31-Dec-2011 31-Dec-2012
Comments
Intermediate Results Indicators
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The World Bank Report No: ISR6330
Indicator Name Core Unit of Measure Baseline Current End Target
Component A: Promotion of EE Financing - EE Text Value n/a PMO will hire 3rd party to Final draft
investment monitoring and evaluation monitor and verify energy
Public Disclosure Copy
procedures developed savings of the EE lending
portfolio
Date 28-May-2008 27-Mar-2012 31-Dec-2013
Comments
Component A: Promotion of EE Financing - Text Value 0 $170 million 150
EE financing demand of projects in the project Date 28-May-2008 27-Mar-2012 31-Dec-2013
pipeline (million US$)
Comments
Component B: EC Investment Lending - Text Value 0 $315M: IBRD $115M and 400
Cumulative amount of EE lending of PFIs participating banks $200M
(million US$) Date 28-May-2008 31-Dec-2011 31-Dec-2013
Comments
Component B: EC Investment Lending - Text Value 0 1.7 million tons of coal 1.58
Annual energy consumption avoided from the equivalent
EE lending of participating banks (million tons Date 28-May-2008 31-Dec-2011 31-Dec-2013
of coal equivalent)
Comments
Component B: EC Investment Lending - Text Value 0 4.2 million tons 3.84
Annual avoided CO2 emissions from EE Date 28-May-2008 31-Dec-2011 31-Dec-2013
lending of PFIs (million tons of CO2)
Comments
Component C: National Policy Support and Text Value n/a NECC formed and staffed
Capacity Building - Establishment and Date 28-May-2008 03-May-2010 31-Dec-2013
functional operation of NECC
Comments
Component C: National Policy Support and Text Value n/a Final
Capacity Building - NECC business plan and Date 28-May-2008 31-May-2011 31-Dec-2013
initial work program developed
Comments
Public Disclosure Copy
Component C: National Policy Support and Text Value 0.0 Activities ongoing to evaluate Review carried out
Capacity Building -Mid-term review of 11th FYP 11th FYP, and support
programs conducted and recommendations implementation for 12th FYP.
made. Necessary actions taken to enhance Date 28-May-2008 27-Mar-2012 31-Dec-2013
results
Comments
Data on Financial Performance (as of 31-Jan-2012)
Financial Agreement(s) Key Dates
Project Loan No. Status Approval Date Signing Date Effectiveness Date Closing Date
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The World Bank Report No: ISR6330
Project Loan No. Status Approval Date Signing Date Effectiveness Date Closing Date
P084874 IBRD-75290 Effective 27-May-2008 11-Jul-2008 07-Oct-2008 31-Dec-2013
P084874 IBRD-75300 Effective 27-May-2008 11-Jul-2008 07-Oct-2008 31-Dec-2013
Public Disclosure Copy
P084874 IBRD-80920 Not Effective 27-Oct-2011 10-Jan-2012 31-Dec-2016
P098916 TF-90719 Effective 11-Jul-2008 11-Jul-2008 11-Jul-2008 31-Dec-2013
Disbursements (in Millions)
Project Loan No. Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed
P084874 IBRD-75290 Effective USD 100.00 100.00 0.00 63.99 36.01 64.00
P084874 IBRD-75300 Effective USD 100.00 100.00 0.00 58.15 41.85 58.00
P084874 IBRD-80920 Not Effective USD 100.00 100.00 0.00 0.00 100.00 0.00
P098916 TF-90719 Effective USD 13.50 13.50 0.00 2.18 11.32 16.00
Disbursement Graph
Public Disclosure Copy
Key Decisions Regarding Implementation
With approval of CHEEF Additional Financing project in October 2011, the PDO of the CHEEF project is also expected to change to "improve energy efficiency of selected
enterprises in several key energy-consuming sectors, thereby reducing their greenhouse gas emissions, through scale-up of participating bank's lending for energy efficiency
investments". Such update has broadened the sub-borrowers from large and medium-sized industrial enterprises to all sizes of enterprises particularly ESCOs and expanded the
targeted market segments from the industrial to the building sector to support the government's ten priority energy conservation programs. The closing date is also expected to
extended from Dec. 31 2013 to Dec. 31, 2016.
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The World Bank Report No: ISR6330
Restructuring History
There has been no restructuring to date.
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Related Projects
P098916-China Energy Efficiency Financing, P123239-China Energy Efficiency Financing III
Public Disclosure Copy
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