Quick Facts

Where the impacts of the investment may be experienced.
  • China
Location: Guangxi and Liaoning
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • International Finance Corporation (IFC)
Status: Active
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2016-12-08
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
The holder of the loan, grant, or other investment.
The service or industry focus of the investment. A project can have several sectors.
  • Agriculture and Forestry
  • Industry and Trade
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 293.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

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Primary Source

Original disclosure @ IFC website
Updated in EWS: 2017-08-15
Disclosure Date: 2016-10-03
Guangxi Yangxiang Co Ltd

Project Description
IFC is considering a long-term local currency loan of up to US$50 million equivalent to Guangxi Yangxiang Co. Ltd. ("Yangxiang" or the "company"). Established in 1998 in Guigang city, Guangxi Autonomous Region, Yangxiang's main business segments include: (i) the breeding and farming of pigs, and (ii) the manufacturing of pig feed. Yangxiang is among the largest integrated pig companies in China, and the first Chinese feed company that obtained both ISO9001 and ISO14001 certifications in the sector. Headquartered in Guangxi, Yangxiang has operations in Hebei, Henan, Hunan and Liaoning provinces; all are considered frontier regions in China.The Project consists of building two breeding farms in Guigang, Guangxi, and recruiting and retaining contract farmers for hog farming (the "project"). As a result, the breeding capacity will increase by 80,000 sows and the farming capacity will increase by 2 million commercial hogs.The project has already commenced and it is expected to be completed over the next 18-24 months. The company plans to finance the project mainly through its internal cash generation and the remaining up to US$50 million equivalent is to be financed by IFC's long-term local currency loan. The project expect to: Boost economy in the frontier regions: Yangxiang is the largest private pig company in Guangxi, a frontier region, and has presence in other frontier regions, including Henan, Hebei, Liaoning, and Hunan. The proposed Project will help improve farmers' income and boost the economy in the frontier regions. Food Safety and Supply Chain Efficiency: The Chinese pig sector is still characterized by poor hygiene standards, inadequate bio-security, and over-use of antibiotics. By investing in Yangxiang, IFC is supporting a company with both the capacity and willingness to improve food safety. Besides positive impact on food safety, an upgrading supply chain management supported by the Project will also result in the improvement of pig farming operation and quality of output (better feed conversion ratio and lower mortality), which enhances the overall supply chain efficiency. Farmers Reached: Currently, about 1,000 contract farmers are growing the commercial hogs for Yangxiang. The Project is expected to reach 4,000 additional contract farmers. Yangxiang is to enable the contract farmers to reduce piglet mortality and improve operational efficiency.
Investment Description
Contact Information
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