Nonsovereign (Private) Project | 40901-014 Status: Active


Project Details

Project Officer
Gulshan, Karan Raj Private Sector Operations Department Request for information
  • India
  • Finance
Project Number 40901-014
Location India
Approval Number 7234
Type of ADB Assistance / Amount
7234 Equity USD 20.00 million Committed
Strategic Agendas Inclusive economic growth
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 Portfolio Management Division, PSOD
Responsible ADB Officer Gulshan, Karan Raj
Project Sponsor(s) Blue River Capital Management Company I, LLC
Objectives and Scope The Fund provided expansion financing to middle-market companies in India in export sectors such as specialty chemicals, textiles, automotive components, and IT services in which India can sustain competitive advantage because of its low labor costs and abundant resources. Domestically, the Fund focused on large industries that are not capital-intensive or prone to excessive competition such as manufacturing and business services, which are anticipated to grow in response for India's need for improved infrastructure, efficiency and quality of life.
Status of Development Objectives By investing in the Fund, ADB achieved the following developmental objectives: (i) Private sector development was stimulated thereby creating jobs and supporting the middle class; (ii) Equity was provided to address the shortage of risk capital for SMEs; (iii) Sustainable employment was created in the investee companies; (iv) Increased equity finance for entreprenurial companies; (v) Demonstration effect achieved through pivate equity teams, which will develop a body of experienced finance professionals and provide support to a first-time fund manager; (vii) Management advice provided to entrepreneurial companies on financial planning, business expansion strategies, human resource develoment and corporate governance; and (viii) the Fund's investment contributed to the development of the regulatory and legal environment in India.
Linkage to Country/Regional Strategy ADB's country strategy and program for India states that the private sector has a leading role to play in achieving growth targets. ADB's investment in this Fund contributes to resource mobilization, improved financial intermediation, and investment in private sector projects. ADB has made major efforts to provide long-term finance for small and medium-sized enterprises (SMEs) in India, as well as to address issues associated with improving the overall enabling environment. The role of the financial sector in delivering ADB's operational objectives is critical with respect to poverty reduction, governance, and private sector development.
Safeguard Categories
Environment FI
Involuntary Resettlement C
Indigenous Peoples C
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 10 Jan 2006
Due Diligence 10 Dec 2005
Credit Committee Meeting 22 Mar 2006
Approval 08 Jun 2006
PDS Creation Date 20 Mar 2006
Last PDS Update 30 Sep 2014

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.

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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.

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Title Document Type Document Date
Proposed Equity Investment Blue River Capital I Reports and Recommendations of the President Apr 2006

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 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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