PROJECT

Projects

Summary of Investment Information

Project Number

42401

Company Name

XIANG NIAN FOOD CO., LTD.

Date SPI Disclosed

Dec 3, 2019

Country

China

Region

East Asia and the Pacific

Projected Board Date

Feb 28, 2020

Environmental Category

B - Limited

Status

Active

Last Updated Date

Jun 12, 2021

Department

Regional Industry - MAS Asia & Pac

Industry

Agribusiness and Forestry

Previous Events

Approved : Jun 26, 2020
Signed : Jul 21, 2020
Invested : Sep 18, 2020

Sector

Grain Processing (Milling, Starch, Flour, Malt)

Project Description

  The proposed investment is a US$30 million equivalent A-loan to Xiang Nian Foods Co. Ltd. (“XN”, or the

“Company”), an existing portfolio client of IFC. Headquartered in Nanyang, Henan Province, XN is a manufacturer of dried wheat noodles.   With the support from IFC’s financing, XN successfully established the Phase I of a new dried noodle factory in Zhenping county, Henan Province. The proposed IFC’s investment is critical in meeting the remaining capital expenditure and working capital needs for this new factory.                                 

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation