51400-001: Cornerstone Investment in a Leading Power Developer | Asian Development Bank

Bangladesh: Cornerstone Investment in a Leading Power Developer

Nonsovereign (Private) Project | 51400-001 Status: Approved

ADB will subscribe to Summit Power International Limited's common equity shares as a cornerstone investor for its initial public offering.

Project Details

Project Officer
Liu, Brian K. Private Sector Operations Department Request for information
Country
  • Bangladesh
Sector
  • Energy
 
Project Name Cornerstone Investment in a Leading Power Developer
Project Number 51400-001
Borrower/Company Summit Power International Limited
Country Bangladesh
Location Nation-wide
Type or Modality of Assistance
Strategic Agendas Inclusive economic growth
Regional integration
Drivers of Change Partnerships
Private sector development
Sector / Subsector

Energy / Conventional energy generation

Gender Equity and Mainstreaming Some gender elements
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Infrastructure Finance Division 1
Responsible ADB Officer Liu, Brian K.
Project Sponsor(s) Summit Power International Limited
Description ADB will subscribe to Summit Power International Limited's common equity shares as a cornerstone investor for its initial public offering.
Objectives and Scope The outputs of the project are (i) new capital raised through an initial public offering, (ii) installed capacity of power plants increased, (iii) growth of the local economy supported.
Linkage to Country/Regional Strategy The project is also aligned with ADB's country partnership strategy for Bangladesh from both a strategic and thematic perspective as it is envisaged to ease infrastructure constraints, develop resilient energy infrastructure, encourage private sector investment, and improve governance.
Safeguard Categories
Environment A
Involuntary Resettlement A
Indigenous Peoples B
Summary of Environmental and Social Aspects
Environmental Aspects The proposed investment is a general corporate finance transaction and is classified as category A for environment based on the potential impacts of the company's future pipeline projects that could potentially be supported by ADB's equity.
Involuntary Resettlement The proposed investment is a general corporate finance transaction and is classified as category A for involuntary resettlement based on the potential impacts of the company's future pipeline projects that could potentially be supported by ADB's equity.
Indigenous Peoples The proposed investment is a general corporate finance transaction and is classified as category B for indigenous peoples based on the potential impacts of the company's future pipeline projects that could potentially be supported by ADB's equity.
Stakeholder Communication, Participation, and Consultation The company has adopted a corporate-wide environmental and social management system to address stakeholder communications, participation, and consultation for its projects.
Timetable for assistance design, processing and implementation
Concept Clearance 23 Jan 2018
Credit Committee Meeting 02 Mar 2018
Approval 28 Mar 2018
Last PDS Update 26 Apr 2018

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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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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