Public Disclosure Copy The World Bank Implementation Status & Results Report China Energy Efficiency Financing II (P113766) China Energy Efficiency Financing II (P113766) EAST ASIA AND PACIFIC | China | Energy & Extractives Global Practice | IBRD/IDA | Financial Intermediary Loan | FY 2010 | Seq No: 9 | ARCHIVED on 10-Aug-2015 | ISR20281 | Implementing Agencies: China Minsheng Banking Corp. Ltd. Key Dates Key Project Dates Board Approval date:22-Jun-2010 Effectiveness Date:02-Nov-2010 Planned Mid Term Review Date:28-Oct-2013 Actual Mid-Term Review Date:04-Nov-2013 Original Closing Date:31-Dec-2014 Revised Closing Date:31-Dec-2016 Project Development Objectives Project Development Objective (from Project Appraisal Document) The objective of the Project is to improve the energy efficiency of selected enterprises, and thereby reduce their adverse environmental impacts through scaling-up commercial lending for energy efficiency investments. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name Energy Efficiency Investment Sub-projects:(Cost $100.00 M) Technical assistance and capacity building:(Cost $0.80 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  Unsatisfactory  Moderately Unsatisfactory Overall Implementation Progress (IP)  Unsatisfactory  Moderately Satisfactory Overall Risk Rating  Substantial  Moderate Implementation Status and Key Decisions 8/10/2015 Page 1 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report China Energy Efficiency Financing II (P113766) Since project restructuring in March 2015, there has been positive progress in implementation and towards achievement of the PDO. Minsheng has implemented two more subprojects, which together used US$33.12 million of IBRD loan proceeds, raising utilization of the IBRD loan for subprojects to US$69.62 million. Moreover, Minsheng has started to report parallel financing on energy efficiency and renewable energy projects. In total, these projects are expected to generate annual energy savings of 0.79 million tce and GHG emission reductions of 1.99 million CO2e. 8/10/2015 Page 2 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report China Energy Efficiency Financing II (P113766) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance  --  Low  Low Macroeconomic  --  Moderate  Moderate Sector Strategies and Policies  --  Low  Low Technical Design of Project or Program  --  Moderate  Moderate Institutional Capacity for Implementation and Sustainability  --  Substantial  Moderate Fiduciary  --  Moderate  Moderate Environment and Social  --  Moderate  Moderate Stakeholders  --  Substantial  Moderate Other  --  --  -- 8/10/2015 Page 3 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report China Energy Efficiency Financing II (P113766) Overall  --  Substantial  Moderate Results Project Development Objective Indicators PHINDPDOTBL  Projected lifetime energy savings (Megawatt hour(MWh), Core) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 18241740.00 127830560.00 402116000.00 Date 21-May-2010 27-Mar-2015 23-Jul-2015 31-Dec-2016 PHINDPDOTBL  Amount of accumulated EE investments and renewable commercial lending supported and leveraged by the project (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 60.53 1076.22 1000.00 Date 21-May-2010 27-Mar-2015 23-Jul-2015 31-Dec-2016 PHINDPDOTBL  Associated annual energy savings from the EE investments (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.11 0.79 2.47 Date 21-May-2010 27-Mar-2015 23-Jul-2015 31-Dec-2016 PHINDPDOTBL  Reduction in GHGs from the EE investments (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.27 1.99 6.10 Date 21-May-2010 27-Mar-2015 23-Jul-2015 31-Dec-2016 8/10/2015 Page 4 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report China Energy Efficiency Financing II (P113766) Overall Comments Intermediate Results Indicators PHINDIRITBL  Cumulative amount of EE lending (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 36.50 69.62 100.00 Date 21-May-2010 27-Mar-2015 23-Jul-2015 31-Dec-2016 PHINDIRITBL  Number of training courses conducted on the operation manual (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 2.00 2.00 8.00 Date 21-May-2010 27-Mar-2015 23-Jul-2015 31-Dec-2016 PHINDIRITBL  Environmental and social risk assessment and control system strengthening plan completed and recommended to Minsheng management (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value NA Not conducted yet Not conducted yet Completed Date 21-May-2010 27-Mar-2015 23-Jul-2015 31-Dec-2016 PHINDIRITBL  Study of business opportunities for Minsheng in carbon financing and trading is completed (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value NA Not conducted yet Not conducted yet Completed Date 21-May-2010 27-Mar-2015 23-Jul-2015 31-Dec-2016 Overall Comments 8/10/2015 Page 5 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report China Energy Efficiency Financing II (P113766) Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P113766 IBRD-79350 Effective USD 100.00 100.00 0.00 72.25 27.75 72% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P113766 IBRD-79350 Effective 22-Jun-2010 11-Aug-2010 02-Nov-2010 31-Dec-2014 31-Dec-2016 Cumulative Disbursements Restructuring History Level 2 Approved on 28-Dec-2014 ,Level 2 Approved on 25-Mar-2015 Related Project(s) 8/10/2015 Page 6 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report China Energy Efficiency Financing II (P113766) There are no related projects. 8/10/2015 Page 7 of 7 Public Disclosure Copy