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| Project Name |
LOMBARD THAILAND INTERMEDIATE FUND |
| Project Number |
34911-014 |
| Borrower/Company |
|
| Country |
Thailand |
| Location |
Thailand |
| Approval Number |
7171 |
| Type or Modality of Assistance |
| 7171 |
Investment Fund |
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 |
Duarte Henriques da Silva |
| Project Sponsor(s) |
ADB
International Finance Corporation
Thailand Partners, LP (CalPERS is the sole LP)
Lombard Thailand Intermediate Fund Manager
|
| Description |
Lombard Thailand Intermediate Fund, LLC (the Fund) was formed in October 2001 for the purpose of making equity investments in Thailand through participation in the Thailand Equity Fund (TEF). ADB committed up to $25 million to the Fund to assist private Thai companies recovering from the Asian financial crisis of 1997-98. This project has a two-tier structure involving the establishment of an Offshore and Onshore fund. ADB and other international investors will invest in Lombard Thailand Intermediate Fund, the Offshore Fund, who in turn will invest in Thailand Equity Fund, the Onshore Fund. The Onshore Fund will identify and invest in priority sectors particularly those that have strong growth prospects and those that need to be restructured. This investment will enable the assisted companies to expand operations and increase much-needed employment following the Asian crisis. |
| Objectives and Scope |
|
| Linkage to Country/Regional Strategy |
ADB's operational strategy for Thailand includes greater private sector participation in the provision of services previously supplied by the public sector. The emphasis has been on private sector involvement in physical infrastructure investments, environment, natural resources management, and human resource development. The Onshore Fund will seek to invest equity capital in, and provide debt and debt-like instruments to selected Thai companies, and will play an essential anchor role in efforts to restructure these firms. |
Safeguard Categories
| Environment |
B |
| Involuntary Resettlement |
|
| Indigenous Peoples |
|
Summary of Environmental and Social Aspects
| Environmental Aspects |
|
| Involuntary Resettlement |
|
| Indigenous Peoples |
|
| Stakeholder Communication, Participation, and Consultation |
|
Timetable for assistance design, processing and implementation
| Concept Clearance |
07 Jul 2000 |
| Due Diligence |
|
| Credit Committee Meeting |
21 Oct 2000 |
| Approval |
07 Sep 2001 |
| PDS Creation Date |
01 Sep 2006 |
| Last PDS Update |
03 Apr 2013 |
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
None currently available.
Related Publications
None currently available.
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.
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