The hottest international finance company invests

2022-07-31
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IFC invests in China's paper industry IFC, the private investment department of the World Bank Group, has invested US $12.9 million to play the role of market clearing, holding 7.5% of the shares of Jiangxi Chenming Paper Company established on the 7th, and will provide us $72.9 million in financing for the company

ms. fengguiting, deputy director of IFC East Asia and Pacific Bureau, said at the relevant press conference held on the same day that this is the first time that IFC has invested in China's paper industry in a real sense, and it is also the largest investment project in Jiangxi

Jiangxi Chenming Paper Co., Ltd., a joint venture established by South Africa SAPE company, the world's largest copper paper producer, and South Korea's second largest paper company, South Korea xinmaolin paper company, International Finance Corporation, Shandong Chenming Paper Group and Jiangxi paper company, was announced in Nanchang on the 7th. In this project with a total investment of US $487million, IFC will support Jiangxi Chenming paper industry to form an annual production capacity of 350000 tons of low weight coated paper, and build a bleaching thermomechanical pulp production line and a production facility for deinked pulp from waste paper produced by Jinan assaying impact machine. The financing will also be used to support the Jiangxi provincial government to build a supporting power plant and transportation infrastructure in Nanchang

fengguiting said that the Jiangxi Chenming Paper project has attracted investment from South African and South Korean heavyweight enterprises, which is a model of "South South cooperation" and also shows the good development prospects of China's paper industry. As a shareholder and major loan organizer, IFC introduced an international perspective into Jiangxi Chenming and implemented international standards in many aspects, such as society, project financing structure, environmental standards, etc

it is understood that since 1985, IFC has provided us $1.8 billion in financing for 78 projects lasting 10 seconds in China

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