China, People's Republic of: China Environment Fund 2004, LP

Nonsovereign Project | 39934-014 Status: Approved

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Project Name China Environment Fund 2004, LP
Project Number 39934-014
Borrower/Company CHINA ENVIRONMENT FUND 2004, LP
Country China, People's Republic of
Location Cayman Islands
Approval Number 7220
Type or Modality of Assistance
7220 Investment Fund-Equity Investment-LP USD 7.00 million Committed
Strategic Agendas Inclusive economic growth
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 S. Jane Brett
Project Sponsor(s) Leading Environmental Services & Solutions Ltd (LESS)
Tsinghua Ventures Capital Management
Description This project is the second investment vehicle dedicated to the environment sector in the People's Republic of China (PRC) following China Environment Fund 2002, LP. China Environment Fund 2004, LP (the Fund) will invest equity capital in selected enterprises with strong growth potential and engaged in providing environmental products and services in the PRC. The Fund will emphasize investments where the Fund Manager is expected to make significant strategic value contribution to its investee companies, in addition to its investment of capital.
Objectives and Scope The primary investment objective of the Fund is to achieve a long-term financial, environmental and social return on investment through privately-negotiated equity and equity-related investments in companies engaged in a business activity that has a beneficial impact on the environment.
Linkage to Country/Regional Strategy The support of ADB for environmental activities in PRC is closely aligned with the Government's long-term plan in environmental management and development, and focuses on (i) improving the policy, legal, and regulatory framework to strengthen environmental management; (ii) introducing or developing market-based instruments for environmental management; (iii) building capacity in key agencies and local environmental protection bureaus; (iv) addressing environmental problems in selected urban centers; (v) promoting the efficient use and conservation of soil, water, and marine resources; and (iii) promoting the use of cleaner processes and clean coal technologies for industrial production and power generation.
Status of Development Objectives The Fund has finished investing, and is now focused on adding value to its portfolio of investments and finding appropriate exit opportunities.
Safeguard Categories
Environment FI
Involuntary Resettlement
Indigenous Peoples
Summary of Environmental and Social Aspects
Environmental Aspects The Fund requires that all investee companies comply with applicable environmental and social policy regulations of government authorities as well as applicable ADB guidelines.
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
Timetable for assistance design, processing and implementation
Concept Clearance -
Due Diligence
Credit Committee Meeting -
Approval 29 Oct 2002
PDS Creation Date 31 Aug 2006
Last PDS Update 24 Sep 2014

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