Nonsovereign Project | 38906-014


Project Details

  • Project Officer
    Taneja, Anshukant
    Private Sector Operations Department
    Request for information
  • Country/Economy
  • Sector
    • Finance
Project Number 38906-014
Country / Economy Regional
Location Regional
Type or Modality of Assistance
7198 Equity USD 2.50 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 Portfolio Management Division, PSOD
Responsible ADB Officer Taneja, Anshukant
Project Sponsor(s)
Objectives and Scope The Fund has made investments in target investees that provide banking and other financial services to MSEs in order to create jobs for or otherwise benefit low-income persons, or have the potential to expand financial services to low-income communities that have historically been excluded from the formal banking system. Investees have included small business banks, microfinance banks, regulated microfinance non banks and microfinance non governmental organizations primarily those transforming into formal financial institutions that provide access to financial services to individuals and sectors of the economy typically ignored by mainstream financial institutions.
Status of Development Objectives The Fund's investees have so far made a considerable number of new development loans. Development loans are loans to (i) small enterprises that create jobs for the poor and (ii) low-income microentrepreneurs in impoverished areas.
Linkage to Country/Regional Strategy This project is well aligned with ADB's central mission of poverty reduction through the implementation of various ADB strategy and regional guidelines with regard to (i) promotion of microfinancing, (ii) support for SMEs, (iii) enhancement of financial markets, and (iv) encouragement of appropriate private-sector led initiatives in addressing these goals. This will directly address the key elements of ADB's poverty reduction strategy, namely the promotion of (i) pro-poor, sustainable economic growth (through directly assisting MSE sectors via support for qualified investees); (ii) social development (through ensuring that these investees reach out to poor, underserved areas of their economies, as well as embrace socially sound practices); and (iii) good governance (through the Fund's board membership and active role within investee institutions to promote good corporate governance as a core part of the investment strategy).
Safeguard Categories
Environment FI
Involuntary Resettlement
Indigenous Peoples
Summary of Environmental and Social Aspects
Environmental Aspects All companies in which the Fund invests complies with national environmental laws, regulations, and standards, or agree to adopt a program to comply with them or, as soon as possible, to reasonably mitigate any noncompliance with them, and to comply with the ADB and World Bank environmental and social safeguard policies.
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
Timetable for assistance design, processing and implementation
Concept Clearance 10 Feb 2004
Credit Committee Meeting -
Approval 05 May 2004
PDS Creation Date 01 Sep 2006
Last PDS Update 30 Sep 2014

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