fbpx 53397-001: Asian Sustainable Infrastructure Mobilization Project | Asian Development Bank

Regional: Asian Sustainable Infrastructure Mobilization Project

Nonsovereign (Private) Project | 53397-001 Status: Approved

CCH is raising equity capital from new and existing shareholders to scale up its investments in sustainable infrastructure through the expansion of two existing group companies, Clifford Capital Pte. Ltd. (CCPL) and Pierfront Capital Fund Management Pte. Ltd. and the establishment of two new group companies Bayfront Infrastructure Management Pte. Ltd. (BIM) and a supply chain financing (SCF) entity.

Project Details

Project Officer
Chan, Christine P. Private Sector Operations Department Request for information
Country
  • Regional
Sector
  • Finance
 
Project Name Asian Sustainable Infrastructure Mobilization Project
Project Number 53397-001
Borrower/Company Clifford Capital Holdings Pte. Ltd.
Country Regional
Location Regional
Type or Modality of Assistance
7636 Equity Ordinary capital resources USD 50.00 million Approved
JL08 Equity Leading Asia's Private Infrastructure Fund (LEAP) USD 45.00 million Approved
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Regional integration
Drivers of Change Partnerships
Private sector development
Sector / Subsector

Finance / Infrastructure finance and investment funds

Gender Equity and Mainstreaming Some gender elements
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Infrastructure Finance Division 2
Responsible ADB Officer Chan, Christine P.
Project Sponsor(s)
Description CCH is raising equity capital from new and existing shareholders to scale up its investments in sustainable infrastructure through the expansion of two existing group companies, Clifford Capital Pte. Ltd. (CCPL) and Pierfront Capital Fund Management Pte. Ltd. and the establishment of two new group companies Bayfront Infrastructure Management Pte. Ltd. (BIM) and a supply chain financing (SCF) entity.
Objectives and Scope
Linkage to Country/Regional Strategy In line with ADB's Strategy 2030, this project supports ADB's focus on mobilizing and catalyzing financial resources for expanding ADB's private sector operations to support ADB's seven operational priorities. In line with the Private Sector Operations Departments 2019 operational plan, the project also supports increased cofinancing and co-investment opportunities in ADB's priority sectors including renewable energy, environmental infrastructure, transport, and information and communication technology. This is also aligned with the respective country partnership strategies, as many of ADB's DMCs emphasize the need for private sector investment, inclusive growth, regional connectivity, and sustainable infrastructure financing.
Safeguard Categories
Environment A
Involuntary Resettlement A
Indigenous Peoples A
Summary of Environmental and Social Aspects
Environmental Aspects CCH subsidiaries may finance companies engaged in business activities with potential environmental risks and impacts that may be categorized as A under the ADB SPS. During the due diligence ADB assessed CCH subsidiaries' current and likely future portfolio, existing environmental and social management system (ESMS), and the commitment and capacity for environmental and social management. A sub-procedure was developed and will be appended in the existing ESMS to ensure that investments eligible for use of ADB's equity investment will be screened, categorized, assessed, approved and managed in accordance with ADB SPS SR1 requirements. ADB will require CCH to submit an annual environmental and social performance report to ensure that CCH subsidiaries are operating in accordance with the ESMS sub-procedure.
Involuntary Resettlement CCH subsidiaries may finance companies engaged in business activities that may cause involuntary physical or economic displacement impacts. Investments eligible for use of ADB's equity investment proceeds will be assessed, approved and managed in accordance with ADB SPS SR2 requirements as set out in the environmental and social management system.
Indigenous Peoples CCH subsidiaries may finance companies engaged in business activities that may adversely affect or target as beneficiaries distinct and vulnerable indigenous peoples or ethnic minority communities. Investments eligible for use of ADB's equity investment proceeds will be assessed, approved and managed in accordance with ADB SPS SR3 requirements as set out in the environmental and social management system.
Stakeholder Communication, Participation, and Consultation CCH subsidiaries each have an environmental and social management system that requires assessment of past and current client performance in achieving effective stakeholder communication, participation and consultation in accordance with applicable requirements. CCH will implement a system to respond to stakeholders affected by its business activities and will periodically report to shareholders on its and its portfolio company's performance.
Timetable for assistance design, processing and implementation
Concept Clearance 16 Jan 2020
Credit Committee Meeting 12 May 2020
Approval 08 Jul 2020
Last PDS Update 08 Jul 2020

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Evaluation Documents See also: Independent Evaluation

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Related Publications

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