SHRCB will on-lend NDB’s loan to sub-borrowers to finance infrastructure projects in Shanghai in the areas of clean energy, environmental protection and digital infrastructure.

The Project is expected to contribute towards (i) increasing installed sources of renewable energy to cater for clean energy needs in Shanghai, (ii) enhance urban waste management and promote a circular economy by improving treatment capacity and encouraging resource recycling and reuse, and (iii) accelerate the city’s digital transformation in an energy-efficient manner.

The Project contributes primarily to United Nations Sustainable Development Goals (“SDG”s) on Industry, Innovation and Infrastructure. Additionally, the project could contribute to SDG 7 on Affordable and Clean Energy, as well as SDG 11 on Sustainable Cities and Communities.

SHRCB will be responsible for identifying sub-projects for NDB financing based on pre-agreed eligibility criteria. SHRCB will also be responsible for appraising, financing, and monitoring sub-projects.

The Project has been categorized as Category FI-B in line with NDB’s Environment and Social Framework. SHRCB’s environmental and social risk management procedures will be enhanced to a robust Environmental and Social Management System (“ESMS”) for effectively assessing and managing the E&S impacts and risks associated with the sub-projects funded by NDB. NDB financing will not include sub-projects with significant adverse E&S impacts, i.e. sub-projects assigned Category A. The potential adverse E&S impacts and risks will be managed and mitigated through the application of SHRCB’s ESMS and ensuring sub-project compliance with the country system requirements, as well as the implementation of an Environmental and Social Impact Management Plan, agreed upon with NDB.