India : Investment in True North (GIFT) Fund VII

Nonsovereign Project | 56161-001

The Fund will provide equity capital for expansion purposes to middle market companies headquartered or with significant business operations in India

Project Details

  • Project Officer
    Mahmud, Farshed
    Private Sector Operations Department
    Request for information
  • Approval Date
    24 August 2022
  • Country/Economy
    India
  • Sector
    • Finance
Project Name Investment in True North (GIFT) Fund VII
Project Number 56161-001
Borrower / Company True North (GIFT) Fund VII
Country / Economy India
Location Nation-wide
Type or Modality of Assistance
7724 Equity Ordinary capital resources USD 50.00 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
Sector / Subsector

Finance / Infrastructure finance and investment funds
Gender Effective gender mainstreaming
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Private Sector Investment Funds and Special Initiatives Division
Responsible ADB Officer Mahmud, Farshed
Project Sponsor(s)
Description The Fund will provide equity capital for expansion purposes to middle market companies headquartered or with significant business operations in India
Objectives and Scope
Linkage to Country/Regional Strategy
Safeguard Categories
Environment FI
Involuntary Resettlement FI-C
Indigenous Peoples FI-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 07 Jul 2022
Credit Committee Meeting 07 Jul 2022
Approval 24 Aug 2022
Last PDS Update 24 Aug 2022

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Title Document Type Document Date
Investment in True North (GIFT) Fund VII: Initial Poverty and Social Analysis Initial Poverty and Social Analysis Jun 2022

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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