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AsDB financing guarantee to Far East Horizon to develop cleaner transport in China
Project
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Signature date
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Location
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China
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Financing tool
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Financing amount (Euro)
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20027237.04
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Financing details
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Guarantee given of USD 25m
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Customer
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ASIAN DEVELOPMENT BANK
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Type of customer
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Company
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Project number
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PCN1046
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Environmental and social ranking
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IF-A
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco is guaranteeing the financing allocated by the Asian Development Bank to Far East Horizon, so that it can continue to support more environmentally friendly and cleaner means of transport – particularly buses.
Client presentation
The Asian Development Bank (AsDB) is a multilateral development bank founded in 1966 to support the economic and social development of Asia-Pacific countries. It now has 67 Member States. As ADB has allocated financing to the Chinese group Far East Horizon (FEH) to develop its leasing operations in key development sectors. FEH is the 5th largest leasing company in China and is particularly active in the transport, infrastructure, health and education sectors.
Project description
This operation is in the form of a risk subparticipation, i.e. a guarantee attached to USD 100m of financing allocated by the Asian Development Bank to the company Far East Horizon Limited (FEH), in the context of its activity to finance clean buses.
Project impact
This operation will have a positive impact on the climate. It will contribute to the development of lower-carbon and non-polluting transport and will thereby reduce the greenhouse gas emissions attributable to the sector in the country.