China: Ping An Leasing E-Mobility Financing Project - Loan

approved

The Project entails AIIB providing an A loan of up to United States Dollar (USD) 125 million equivalent in Chinese Yuan (CNY), complemented by a C loan up to USD125 million equivalent in CNY to be mobilized by AIIB on a best-effort basis, to Ping An International Financial Leasing Co., Ltd. (PAIFL) to support its financial leasing services for urban transport electrification in China. The loan proceeds will support eligible subprojects through lease financing, targeting underserved segments of China's EV ecosystem. Approximately 80 percent of the proceeds will be allocated to electric light-duty and heavy-duty trucks, as well as electric passenger vehicles in tier three and tier four cities. The remaining 20 percent will be dedicated to charging infrastructure, with a focus on charging stations for electric heavy-duty trucks, charging networks along highways and major roads, and public fast chargers across China. AIIB financing will follow PAIFL's Sustainable Development Financing Framework, which is aligned with the Green Loan Principles and Social Loan Principles of the Loan Market Association.