IFC invests in Everbright Water of China

摘要

IFC, a member of the World Bank Group, is investing $35 million in China Everbright Water Limited, one of China's emerging wastewater treatment companies, to support the company's expansion. The IFC is the largest global development institution focused on the private sector. Everbright International CEO Chen Xiaoping says the introduction of IFC and RRJ, two global investment institutions, as strategic investors, strengthens and advances the company's future development. He added, "We are committed to the best environmental, social, and corporate governance practices and would like to be a model of sustainable growth for other water companies in China." China is facing a severe water shortage caused by its fast-growing economy, large population, and rapid urbanization. According an IFC study, the water supply-demand gap in China will reach about 200 billion tons a year by 2030. Water pollution, from sources such as domestic sewerage and livestock and poultry operations, is also a concern. In 2012, more than half the ground-water in nearly 200 cities was graded "bad" or "extremely bad," according to government statistics.