In Washington:
Zibu Sibanda
Phone: 202-473-0605
E-mail: zsibanda@ifc.org
 
In Hong Kong:
Andrew Mak
Phone: +852 2509 8110
E-mail: amak@ifc.org


Washington D.C., December 10, 2007—IFC, a member of the World Bank Group, recently signed a loan agreement that will support Asia Environment Holdings’ efforts to address water shortages and pollution in China.  The company’s activities in the water and wastewater sector will contribute to public health and environmental improvements, including a reduction in waterborne diseases.

China faces mounting water shortages caused by limited resources, increasing demand, and pollution. The availability of water per capita is only one-third of the world average.  The country’s sewage treatment facilities are not sufficient to treat the growing volume of sewage, which is consequently discharged into nearby surface water and groundwater.

The $15 million loan is IFC’s second investment in China’s water and wastewater treatment sector. It will support AEH’s expansion plans by providing reliable longer-term financing and helping raise investor confidence.

“We are happy to partner with IFC. We are also confident that this cooperation will help expand our water and wastewater treatment capacity in China,” said Mr. Wang, Chairman of Asia Environment Holdings.

“Water and wastewater treatment is a priority sector for IFC’s approach in China. In addition to providing financing to support the company’s expansion plans, we will also provide guidance on environmental and social standards that will cover all relevant areas of its business,” said Rashad Kaldany, IFC Director for Infrastructure.  

About IFC
IFC, a member of the World Bank Group, fosters sustainable economic growth in developing countries by financing private sector investment, mobilizing private capital in local and international financial markets, and providing advisory and risk mitigation services to businesses and governments. IFC’s vision is that poor people have the opportunity to escape poverty and improve their lives. In FY07, IFC committed $8.2 billion and mobilized an additional $3.9 billion through loan participations and structured finance for 299 investments in 69 developing countries. IFC also provided advisory services in 97 countries. For more information, visit www.ifc.org.

About Asia Environment Holdings Limited
Asia Environment Holdings is incorporated in Singapore and based in Yixing, China. It has been publicly listed on Singapore’s stock exchange since December 2003. AEH is one of the leading local players in China’s water treatment industry, with investments in and management of large-scale build-operate-transfer and transfer-operate-transfer water and wastewater projects.