Regional: REG: LOMBARD ASIA III

Nonsovereign Project | 38911-014

Summary

ADB committed to invest up to US$30 million equity in Lombard Asia III (the Fund), not to exceed 25% of the Fund's total size or result in ADB being the largest investor. ADB's participation in the Fund is the third collaboration with Lombard and reflects the outstanding track record, experience, and value-added role of this Fund Manager.

Latest Project Documents

Title Document Date
Lombard Asia III Dec 2008

Consulting Notices

See also: CMS

No notices are currently available for this project.


Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

The Public Communications Policy (PCP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.

The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.

In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.

Project Name REG: LOMBARD ASIA III
Project Number 38911-014
Borrower/Company LOMBARD ASIA III
Country Regional
Location Cayman Islands
Approval Number 7208
Type or Modality of Assistance
7208 Investment Fund-Equity Investment-LP USD 30.00 million Committed
Strategic Agendas
Drivers of Change
Sector / Subsector Finance - Infrastructure finance and investment funds
Gender Equity and Mainstreaming
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Portfolio Management Division, PSOD
Responsible ADB Officer Catherine C. Pacifico
Project Sponsor(s) Lombard Investments, Inc.
Description ADB committed to invest up to US$30 million equity in Lombard Asia III (the Fund), not to exceed 25% of the Fund's total size or result in ADB being the largest investor. ADB's participation in the Fund is the third collaboration with Lombard and reflects the outstanding track record, experience, and value-added role of this Fund Manager.
Objectives and Scope

The Fund seeks to obtain superior returns by building a diversified investment portfolio consisting primarily of equity and equity-linked investments in midsize companies, formed and operating in the Asia and Pacific region in sectors where the Fund Manager has prior experience.

Another key objective is to promote corporate governance in its own operations and its investee companies. The expected enhanced value-added provided to the Fund's portfolio companies will serve as a model for other Asian companies and encourage them to adopt best practices, particularly with regards to transparency and compliance with ADB-supported investment and operating policies.

Linkage to Country/Regional Strategy The Fund will directly contribute to resource mobilization, financial intermediation improvement, and investment in private sector projects. Involvement of ADB's public sector window through ADB's regional departments is critical to ensure a strong financial sector reform in entrepreneurial finance. ADB also actively supports efforts to strengthen market governance throughout the region. Sound governance is crucial for capital markets to inspire investor confidence and play an effective role in supporting growth by channeling savings to productive investment.
Status of Development Objectives The Fund intends to (i) achieve catalytic role in attracting long-term capital to the region and demonstration effect where the expected enhanced value of the portfolio companies will serve as a model to other companies and encourage them to adopt best practices; (ii) actively promote good corporate governance and improvements in investor relations among its portfolio companies; and (iii) contribute to private sector development.
Safeguard Categories
Environment FI
Involuntary Resettlement C
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects All companies in which the Fund invests will comply with national environmental laws, regulations, and standards; or agree to adopt a program to comply with them; or as soon as possible, to reasonably mitigate any noncompliance with them. They must comply with ADB's environmental and social safeguard policies, including involuntary resettlement and indigenous peoples policies. The Fund has developed an environmental management system that satisfies ADB's environmental requirements, and is committed to its implementation.
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
Timetable for assistance design, processing and implementation
Concept Clearance 21 Apr 2004
Due Diligence 13 Oct 2004
Credit Committee Meeting 06 Dec 2004
Approval 15 Mar 2005
PDS Creation Date 06 Sep 2006
Last PDS Update 03 Oct 2014

No documents found.

Safeguard Documents

See also: Safeguards
Title Document Type Document Date
Lombard Asia III Environmental Monitoring Reports Dec 2008

Evaluation Documents

See also: Independent Evaluation

No documents found.


The Public Communications Policy (PCP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.

Requests for information may also be directed to the InfoUnit.