China, People's Republic of: PRC: LIBERTY NEW WORLD FUND

Nonsovereign Project | 34901-014 Status: Approved

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Project Number 34901-014
Country China, People's Republic of
Location PRC
Approval Number 7159
Type or Modality of Assistance
7159 Investment Fund-Equity Investment-LP US$ 25.00 million Approved
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 Private Sector Investment Funds & Special Initiatives Div
Responsible ADB Officer S. Jane Brett
Project Sponsor(s) New World Group
Liberty Financial Group
Description Liberty New World China Enterprises Investments, LP (the Fund) was launched in December 2000, and was established to help spur the growth of small and medium-sized enterprises (SMEs) in the People's Republic of China (PRC). The Fund invests in small to medium size consumer related enterprises in the development or expansion phase. It aims to help transform these companies into financially and operationally sound enterprises.
Objectives and Scope ADB's investment in the Fund was structured to help build sustainable private sector enterprises in the PRC by providing equity capital, and help strengthen corporate governance and introduce best management practices. It is a known fact that well-managed and viable enterprises contribute to economic growth and help create employment opportunities.
Linkage to Country/Regional Strategy ADB's investment is aligned with the country strategy for the PRC which aims to create jobs, enhance state-owned enterprise (SOE) efficiency, strengthen domestic resource mobilization, and increase the growth of the private sector. ADB's initiatives in the area of private sector development, support the Government's efforts to stimulate private sector growth.
Status of Development Objectives The Fund (i) contributes to employment creation through its investee companies; (ii) promotes the strategic importance of private sector enterprises; (iii) provide expertise in investment and fund management in PRC; (iv) transfer high standards of corporate governance to the investee companies in PRC; and (v) catalyze additional investments.

Safeguard Categories

Environment B
Involuntary Resettlement
Indigenous Peoples

Summary of Environmental and Social Aspects

Environmental Aspects The Fund requires its investee companies to comply with applicable environmental and social policy regulations of the Government authorities as well as the applicable ADB guidelines.
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation

Timetable for assistance design, processing and implementation

Concept Clearance 07 Feb 2000
Due Diligence 06 Apr 2000
Credit Committee Meeting 25 Jul 2000
Approval 06 Oct 2000
PDS Creation Date 31 Aug 2006
Last PDS Update 24 Sep 2014

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Evaluation Documents See also: Independent Evaluation

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