Regional : Asian Sustainable Infrastructure Mobilization Project

Nonsovereign Project | 53397-001

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
    Sahakyan, Gevorg
    Private Sector Operations Department
    Request for information
  • Approval Date
    8 July 2020
  • Country/Economy
    Regional
  • Sector
    • Finance
Project Name Asian Sustainable Infrastructure Mobilization Project
Project Number 53397-001
Borrower / Company Clifford Capital Holdings Pte. Ltd.
Country / Economy 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
Operational Priorities OP1: Addressing remaining poverty and reducing inequalities
OP2: Accelerating progress in gender equality
OP3: Tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability
OP7: Fostering regional cooperation and integration
Sector / Subsector

Finance / Infrastructure finance and investment funds

Gender Some gender elements
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Infrastructure Finance Division 2
Responsible ADB Officer Sahakyan, Gevorg
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 and its group companies 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 and its group companies' 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 and its group companies are operating in accordance with the ESMS sub-procedure.
Involuntary Resettlement CCH and its group companies 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 and its group companies 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's group companies 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 the business activities of its group companies 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 Mar 2024

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.

The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.

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Title Document Type Document Date
Asian Sustainable Infrastructure Mobilization Project: Initial Poverty and Social Analysis Initial Poverty and Social Analysis Dec 2019
Asian Sustainable Infrastructure Mobilization Project: Report and Recommendation of the President Reports and Recommendations of the President Jul 2020

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.


The Access to Information Policy (AIP) 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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