Regional: REG: ISLAMIC INFRASTRUCTURE FUND

Nonsovereign Project | 42911-014

Summary

The transaction is an equity investment of up to $100 million in the Islamic Infrastructure Fund, which will make strategic Shari'-ah-compliant investments in infrastructure projects that have membership in both ADB and Islamic Development Bank (IDB).

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Consulting Notices

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Project Name REG: ISLAMIC INFRASTRUCTURE FUND
Project Number 42911-014
Borrower/Company ISLAMIC INFRASTRUCTURE FUND L.P.
Country Regional
Location Regional
Approval Number 7299
Type or Modality of Assistance
7299 Investment Fund USD 100.00 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 Anshukant Taneja
Project Sponsor(s)
Description The transaction is an equity investment of up to $100 million in the Islamic Infrastructure Fund, which will make strategic Shari'-ah-compliant investments in infrastructure projects that have membership in both ADB and Islamic Development Bank (IDB).
Objectives and Scope The Fund's strategy will be to make strategic Shari'ah-compliant investments in infrastructure projects in countries that have memberships in both ADB and Islamic Development Bank (IDB), namely: Afghanistan, Azerbaijan, Bangladesh, Indonesia, Kazakhstan, Kyrgyz Republic, Malaysia, Maldives, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan. The investment objective of the Fund Manager is to generate attractive financial returns across an anticipated portfolio of investments by collaborating with credible, experienced partners to invest in a diversified portfolio of cash-yielding, capital growth-oriented infrastructure investments including greenfield projects.
Linkage to Country/Regional Strategy This project aims to establish, along with the Islamic Development Bank, a Shari'ah-compliant private equity fund, to invest in infrastructure projects throughout member countries common to the two institutions. The initiative proposed in this transaction is in line with ADB's strategic priorities, which include the provision of infrastructure financing throughout its developing member countries. ADB will take an increasingly catalytic role in mobilizing private sector resources and in facilitating public-private partnerships in the provision of infrastructure.
Safeguard Categories
Environment FI
Involuntary Resettlement C
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects The Fund will be classified as category FI (financial intermediary) under ADB's environment policy and will be required to (i) adopt an appropriate environmental management system comprising policies and procedures; and (ii) undergo training in environmental impact assessment and auditing.
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
Timetable for assistance design, processing and implementation
Concept Clearance 10 Mar 2008
Due Diligence 23 May 2008
Credit Committee Meeting 31 Mar 2009
Approval 28 Apr 2009
PDS Creation Date 13 Mar 2008
Last PDS Update 29 Sep 2014
Title Document Type Document Date
Islamic Infrastructure Fund Reports and Recommendations of the President Apr 2009
Islamic Asia Infrastructure Fund Initial Poverty and Social Analysis Aug 2008

Safeguard Documents

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Title Document Type Document Date
Islamic Infrastructure Fund Environmental Assessment and Review Framework Jul 2009

Evaluation Documents

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No documents found.


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