Regional: REG: ALOE ENVIRONMENT FUND III (Aloe Fund)

Nonsovereign Project | 44945-014 Status: Dropped / Terminated

Summary

Equity investment of up to USD20.0 million (or the equivalent in Euro) in the Aloe Environment Fund III (the Fund), not to exceed 25% of the total commitments in respect to the fund and not resulting in ADB being the largest investor in the fund.

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Project Name REG: ALOE ENVIRONMENT FUND III (Aloe Fund)
Project Number 44945-014
Borrower/Company VENTUREAST LIFE FUND III
Country Regional
Location India and PRC
Approval Number 7332
Type or Modality of Assistance
7332 Investment Fund US$ 20.00 million Approved
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Drivers of Change Private sector development
Sector / Subsector

Energy - Energy efficiency and conservation - Renewable energy generation - biomass and waste

Water and other urban infrastructure and services - Urban water supply

Gender Equity and Mainstreaming
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Capital Markets and Financial Sectors Division
Responsible ADB Officer S. Jane Brett
Project Sponsor(s)
Description Equity investment of up to USD20.0 million (or the equivalent in Euro) in the Aloe Environment Fund III (the Fund), not to exceed 25% of the total commitments in respect to the fund and not resulting in ADB being the largest investor in the fund.
Objectives and Scope Aloe Fund will invest in the climatech activities, comprising early growth-stage businesses in clean energy, waste recycling, and eco-processes, with a specific focus on transferring clean technologies from developed countries to early-stage companies located primarily in the People's Republic of China and India.
Linkage to Country/Regional Strategy The investment in this Fund is aligned with ADB's Energy Policy which seeks to facilitate a transition to a low-carbon economy and universal access to energy as an important step toward achieving ADB's vision of a region free of poverty.

Safeguard Categories

Environment FI
Involuntary Resettlement FI
Indigenous Peoples FI

Summary of Environmental and Social Aspects

Environmental Aspects ADB's investment in the Fund will be classified as category FI (financial intermediary) under ADB' Safeguard Policy Statement. The Fund will be required to establish and implement an appropriate environmental and social management systems (ESMS) to ensure that its investee companies meet national laws and ADB requirements in the countries in which these companies are located.
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation

Timetable for assistance design, processing and implementation

Concept Clearance 15 Nov 2010
Due Diligence
Credit Committee Meeting 28 Mar 2011
Approval -
PDS Creation Date 11 Oct 2011
Last PDS Update 24 Sep 2014

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

None currently available.

Related Publications

None currently available.


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