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China - Energy Efficiency Financing Second Project (English)

Ratings of Energy Efficiency Financing Second Project for China were as follows: outcomes were moderately unsatisfactory, risk to development outcome was substantial, Bank performance was moderately satisfactory, and Borrower performance was moderately unsatisfactory. Some of the lessons learned included: (I) Participating Financial Intermediary's (PFI) continuing commitment and appropriate internal organization are essential factors in the success in Energy Efficiency (EE) lending; (ii) Technical Assistance (TA) and training can have a high payoff but not in the face of high staff turnover; (iii) Training in World Bank procedures is essential to effective implementation; (iv) A model that is successful for one type of PFI may require significant efforts and modification to replicate successfully with another type of PFI; (v) Where financing is permitted to be used for both EE and Renewable Energy (RE) projects, it is possible, and probably likely, for it to flow mostly toward one or the other; and (vi) The commitment of a commercial PFI to implement a credit line should be evaluated carefully at design.

Details

  • Document Date

    2017/06/28

  • Document Type

    Implementation Completion and Results Report

  • Report Number

    ICR4116

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    China,

  • Region

    East Asia and Pacific,

  • Disclosure Date

    2017/07/06

  • Disclosure Status

    Disclosed

  • Doc Name

    China - Energy Efficiency Financing Second Project

  • Keywords

    financial internal rate of return;Economic Internal Rate of Return;higher degree of risk aversion;National Development and Reform Commission;ip disbursements archived;investment in energy efficiency;increase in energy consumption;economic and financial analysis;annual energy saving;energy efficiency investment;fossil fuel use;amount of investment;global financial crisis;assessment of risk;social risk assessment;fossil fuel intensity;adverse environmental impact;independent third party;social and environmental;foreign exchange transaction;energy service companies;energy service company;global environment facility;end-use energy consumption;reduced energy consumption;biomass power generation;due diligence procedure;risk management system;coal consumption rate;consumption of energy;rates of return;amount of electricity;local air quality;risk management process;consumption of fossil;mobilization of finance;Country Partnership Strategy;assessment of outcome;energy saving technology;lack of finance;energy saving technologies;loan guarantee facility;annual emission reduction;intermediate outcome;Natural Resource Management;value added tax;outputs by components;clean energy investment;international good practice;global economic crisis;financial and operating;Financial Intermediary Assessment;commercial bank;parallel financing;commercial lending;banking sector;prior review;investment measure;energy conservation;debt finance;existing asset;commercial financing;financial intermediaries;loan fund;industrial sector;capacity expansion;procurement rule;industrial facility;financial return;energy intensity;energy intensities;domestic bank;primary reason;lending decision;branch bank;waste heat;staff turnover;public financing;internal organizational;organizational structure;stimulus package;loan origination;ineligible expenditures;lending business;business opportunity;commercial debt;grant funds;industrial enterprise;coal use;national energy;co2 emission;financing requirement;cultural resource;project approval;conservation center;lending volume;foreign source;efficient equipment;technical standard;collected information;procurement regulation;procurement staff;natural habitat;corporate default;safeguard policy;stakeholder workshop;beneficiary enterprise;project identification;industrial economy;primary focus;banking system;grant recipient;national grid;energy-efficient technology;government intervention;modern banking;industrial operation;environmental safeguard;project finance;risk control;coal equivalent;Carbon Financing;domestic demand;large bank;public fund;performance information;internal factor;project quality;regular monitoring;Industrial Policy;Industrial Policies;environmental benefit;long-term growth;important policy;accelerated disbursement;project effectiveness;market condition;lending rate;results framework;industry restructuring;project risk;conversion factor;technical expert;incentive mechanism;loan proceeds;global recession;Economic Stimulus;fossil energy;heavy reliance;national economy;internal management;primary author;global environmental;equity contribution;economic slowdown;green growth;procurement arrangement;banking institution;Financial Sector;carbon finance;profit margin;external partner;political commitment;exchange rate;investment need;restructuring plan;Exchange Rates;take time;frontier region;successful innovation;market study;Market Studies;investment requirement;institutional context;heavily dependent;lending practice;Safeguard Policies;regulatory commission;intermediate indicator;commercial investment;disbursement profile;heat power;finance program;Financing programmes;energy performance;outcome indicator;organizational innovation;coal-fired power;industrial technology;electrical equipment;working capital;industrial boiler;financing trade;commercial risk;domestic loan;subsidiary loan;business model;economic statistic;eligibility requirement;energy system;commercial basis;government commitment;heat exchange

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Citation

China - Energy Efficiency Financing Second Project (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/864961499374764795/China-Energy-Efficiency-Financing-Second-Project