Active Mixed AidData Chinese Aid

CDB and China Eximbank pledge loan for environmental waste-to-energy and housing projects in Visayas Region

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Sinophile Shengyun Management Inc.
Country	Philippines
Start Date	Jun 01, 2017
End Date	Aug 16, 2027
Duration	3,728 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`65946`

Grant Description

CDB and China Eximbank pledge loan for environmental waste-to-energy and housing projects in Visayas Region In May 2017, Anhui Shengyun Environmental Protection Group Co. (ASEPGC) and the Visayas Government established a joint venture and special purpose vehicle called Sinophile Shengyun Management Inc. (with paid-up capital of $200,000) in order to design, finance, implement, and manage environmental waste-to-energy and housing projects in the Visayas Region of the Philippines.

China Eximbank and China Development agreed in principle to lend to Sinophile Shengyun Management Inc. to facilitate the implementation of these projects, including $550 million for municipal waste renewable energy power plants; $100 million for biomass renewable energy power plants; $110 million for wastewater treatment plant; $220 million for municipal sewage treatment plant; $100 million for improvement of four existing landfills; and $300 million for road projects, bridges, landscaping, utility improvement, and other public facilities investments such as socialized housing.

PICC Life Insurance Company Limited (a subsidiary of People's Insurance Company (Group) of China Limited) and Ping An Insurance (Group) Company of China Ltd agreed in principle to provide credit insurance. The implementation of these projects was planned to start by June and July 2017.

📋 Staff Comments

AidData has not identified any evidence that a loan agreement was ever finalized, so this project is status-coded as a pledge. Media reports suggest that ASEPGC hold a 70% ownership stake in Sinophile Shengyun Management Inc. However, the specific legal identity of its joint venture partner is unknown.

📚 Sources & References

Chinese investors to pour $1.38B into Visayas projects
Visayas to get $1.38B in projects
Chinese Investors to Pour Over $1B to Visayas
Cebu to have LRT subway-elevated system Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.