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IFC Private Enterprise Partnership China (IFC PEP China)Objectives: This International Finance Corporation Private Enterprise Partnership China (IFC PEP China) project aims to support the development of private, small and medium size enterprises in the interior region of China, with initial focus on Sichuan province. Three principal objectives are proposed based on GOC needs and priorities and IFC's comparative advantage: 1) Bridge the growing gaps between rural and urban and between interior and coastal areas by promoting reform in less-developed and remote areas; 2) Reduce poverty and enhance stability by stimulating job creation in the small and medium enterprises through improved access to finance; 3) Promote the adoption of better environmental, social, and governance practices by the emerging private sector in China to enhance the long-term sustainability and poverty impact of growth. Australian Contribution: A$3.4 million Co-financers: IFC, Switzerland, United Kingdom Duration: 2006-2011 (CPDF Phase I: 2001-2006) Location: Primarily Sichuan, small-scale expansion to Xinjiang, Shaanxi, Yunnan and Gansu planned. National level legal reform. Project Components: To achieve its objectives, the Facility will focus on three core program areas: (a) business enabling environment, (b) financial markets development, and (c) sustainability. Component 1: Business Enabling Environment: The BEE work leverages appropriate WBG tools, such as Doing Business and Investment Climate Assessments, to identify and address specific issues in less-developed and rural regions of China. The objective is to (a) highlight key constraints in the investment climate in various locations in China, (b) encourage provinces and cities with less favourable indicators to undertake appropriate reforms, and (c) provide a basis for the WBG to provide targeted assistance for reform in key locations, sub-sectors, or topics. Component 2: Financial Markets Development: The improvement of the access of micro, small, medium, and rural enterprises to finance is a core objective. Primary focus was initially on SMEs, though efforts to develop micro and rural finance accelerated as sector reform progresses. Component 3: Sustainability: Sustainability or Corporate Social Responsibility (CSR) is a key overarching objective. Planned outcomes: Agri-business linkages: creating sustainable income opportunities for large numbers of poor farming households by providing them with know-how and tools to meet the requirements of large corporate buyers. Micro and rural finance: supporting pilots to improve efficiency and profitability in the micro and rural finance sectors. Logistics and value-chain studies: identifying and addressing specific constraints in key agri-business sectors in remote locations. Managing Contractor/Team Leader: Mr Mario Fischel Chinese Counterparts: National Development and Reform Commission, Ministry of Finance, Ministry of Commerce, People's Bank of China, and Sichuan Investment Promotion Board AusAID Contact: Sun Weiqing May 2008
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