REG: AUREOS SOUTH-EAST ASIA FUND
|Project Name||REG: AUREOS SOUTH-EAST ASIA FUND|
|Borrower/Company||AUREOS SOUTH-EAST ASIA FUND, LLC
|Location||Bangkok, Ho Chi Minh City, Jakarta, Manila|
|Type or Modality of Assistance||
|Strategic Agendas||Regional integration
|Drivers of Change||Private sector development
|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||Janette Hall|
|Project Sponsor(s)||Aureos South-East Asia Managers
|Description||REG: AUREOS SOUTH-EAST ASIA FUND|
|Objectives and Scope||The Fund aims to implement the lessons learned in SME equity finance operations in developing countries during the last decade, by offering: (i) hands-on management and active provision of advice to entrepreneurs in financial planning, business expansion strategies, human resource development, and corporate governance; (ii) local presence, decentralized decision making, and capacity building of local investment teams; (iii) an investment vehicle for long-term SME finance that diversifies exchange, political, and economic risks through its regional approach; and (iv) inclusion of self-liquidating instruments in investment transactions to mitigate exit risk.|
|Status of Development Objectives||The Fund (i) mobilizes long-term capital in the form of private equity from private sources for SMEs in Southeast Asian developing countries to finance expansion and productivity increases; (ii) diversifies sources of finance available for SMEs; (iii) provides management advice to SMEs in financial planning, business expansion strategies, human resource development , and implementation of international standards of corporate governance; (iv) creates sustainable employment in Southeast Asian countries through its investee companies; and (v) stimulates private sector development.|
|Linkage to Country/Regional Strategy||
Aureos South East Asia Fund directly contributes to the implementation of the country strategy and programs of the Fund's target countries by catalyzing private investment in SMEs, diversifying financial channels and improving the governance of SMEs. Specifically:
-- ADB's country strategy and program for Indonesia highlights the role of business investment in accelerating Indonesia's growth path. Providing business support services and financing of SMEs, as well as enhancing the regulatory framework, are priorities for implementing this strategy.
-- Key thrusts of ADB's strategy for the Philippines include catalyzing private investments through direct financing and creating enabling conditions for business. Support for SMEs is a clear priority with respect to implementing the country strategy and program for the Philippines.
-- For Viet Nam, ADB's goal of generating growth and employment through private sector development will be fostered for SME development, diversification of financing channels, agricultural diversification, and improved governance.
|Summary of Environmental and Social Aspects|
|Environmental Aspects||All companies in which the Fund invests complies with national environmental laws, regulations, and ADB's environmental and social safeguard policies; or agree to adopt a program to comply with such standards.|
|Stakeholder Communication, Participation, and Consultation|
|Timetable for assistance design, processing and implementation|
|Concept Clearance||13 Aug 2004|
|Credit Committee Meeting||20 Dec 2004|
|Approval||15 Mar 2005|
|PDS Creation Date||31 Aug 2006|
|Last PDS Update||30 Sep 2014|
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