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.
| Project Name | LOMBARD THAILAND INTERMEDIATE FUND | ||||
| Project Number | 34911-014 | ||||
| Borrower/Company | |||||
| Country | Thailand |
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| Location | |||||
| Type or Modality of Assistance |
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| Strategic Agendas | Inclusive economic growth |
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| Drivers of Change | |||||
| Sector / Subsector | Finance / Infrastructure finance and investment funds |
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| Gender Equity and Mainstreaming | |||||
| Responsible ADB Department | Private Sector Operations Department | ||||
| Responsible ADB Division | Private Sector Investment Funds & Special Initiatives Div | ||||
| Responsible ADB Officer | Henriques da Silva, Duarte | ||||
| Project Sponsor(s) | |||||
| 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. |
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| 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 | |
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| Environmental Aspects | |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| Stakeholder Communication, Participation, and Consultation | |
| Timetable for assistance design, processing and implementation | |
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| Concept Clearance | 07 Jul 2000 |
| Credit Committee Meeting | 21 Oct 2000 |
| Approval | 07 Sep 2001 |
| PDS Creation Date | 01 Sep 2006 |
| Last PDS Update | 03 Apr 2013 |
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 Access to Information Policy (AIP) 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.
| Title | Document Type | Document Date |
|---|---|---|
| Lombard Thailand Intermediate Fund | Extended Annual Review Reports | Oct 2013 |
Safeguard Documents See also: Safeguards
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.
Evaluation Documents See also: Independent Evaluation
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Related Publications
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The Access to Information Policy (AIP) 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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