CN - STATE FARMS COMMERCI

closed

Closed

The basic objectives of the State Farms Commercialization Project are 1) to support, accelerate, and catalyze enterprise reform within the state farm system with a line of credit to be extended through an independent project financial intermediary (PFI) to state farms and enterprises for technological modernization of existing production facilities or establishment of new commercial ventures and 2) to increase the capacity of the China Trust and Investment Corporation for Economic Development (CTICED), the PFI, to conduct long-term lending activities. Financing will be predominantly used by small and medium scale light industries, of a scale sufficient to support environmental pollution control technology, and linked to defined steps in enterprise reform in China--enterprise autonomy; ownership diversification, with participation of collectives and private and foreign-funded enterprises; introduction of the shareholding system; improvement of selected industries with advanced and new technology; development if marketing and distribution systems; and removal of social services from enterprises. The loan is expected to be disbursed over a five-year period. The complete portfolio will consist of about 50 subprojects with average subloans of $4.0 million.

FY17 - Financial Sector,FY17 - Industry, Trade and Services,FY17 - Public Administration,Industry, Trade and Services

World Bank Group

Project

Raw Materials, Commercial, Government