Regional : Administration of Equity Investment in IBISA S.A.

Nonsovereign Project | 57278-001

The transaction involves the administration by the Asian Development Bank (ADB) of an equity investment of up to $4,000,000, with an initial investment of up to $750,000, in IBISA S.A. (IBISA), a company headquartered in Luxembourg with primary operations in India and Philippines. The investment is to be provided by the ADB Ventures Investment Fund 1 under the ADB Ventures Financing Partnership Facility. The balance of the approved amount may be invested as equity or quasi-equity in subsequent fundraising rounds that IBISA is expected to undertake. Consistent with the fund establishment documents, ADB will not invest its own capital alongside the fund.

Project Details

  • Project Officer
    Hersson, Daniel
    Private Sector Operations Department
    Request for information
  • Approval Date
    15 January 2024
  • Country/Economy
    Regional
Project Name
Administration of Equity Investment in IBISA S.A.
Project Number
57278-001
Borrower / Company
  • IBISA S.A.
Country / Economy
  • Regional
  • India
  • Philippines
Location
India - Nation-wide; Philippines - Nation-wide
Type or Modality of Assistance
Approval Number Facility Fund Source Amount Status
Equity ADB Ventures Investment Fund 1 USD 0.00 Approved
8470 Equity ADB Ventures Investment Fund 1 USD 4.00 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
  • OP5: Promoting rural development and food security
Sector / Subsector
  • Finance / Insurance and contractual savings

Gender
Effective gender mainstreaming
Project Sponsor(s)
    Description
    The transaction involves the administration by the Asian Development Bank (ADB) of an equity investment of up to $4,000,000, with an initial investment of up to $750,000, in IBISA S.A. (IBISA), a company headquartered in Luxembourg with primary operations in India and Philippines. The investment is to be provided by the ADB Ventures Investment Fund 1 under the ADB Ventures Financing Partnership Facility. The balance of the approved amount may be invested as equity or quasi-equity in subsequent fundraising rounds that IBISA is expected to undertake. Consistent with the fund establishment documents, ADB will not invest its own capital alongside the fund.
    Objectives and Scope
    Linkage to Country/Regional Strategy

    Safeguard Categories

    Environment
    C
    Involuntary Resettlement
    C
    Indigenous Peoples
    C

    Summary of Environmental and Social Aspects

    Environmental Aspects
    Involuntary Resettlement
    Indigenous Peoples
    Stakeholder Communication, Participation, and Consultation

    Contact

    Responsible ADB Officer
    Hersson, Daniel
    Responsible ADB Division
    Office of the Director General, PSOD
    Responsible ADB Department
    Private Sector Operations Department

    Timetable for assistance design, processing, and implementation

    Concept Clearance
    -
    Credit Committee Meeting
    -
    Approval
    15 Jan 2024
    Last PDS Update
    24 Jan 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.

    The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.

    In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.

    Title Document Type Document Date
    Administration of Equity Investment in IBISA S.A.: Gender Assessment and Action Plan Gender Action Plans Jan 2024
    Administration of Equity Investment in IBISA S.A.: Report and Recommendation of the President Reports and Recommendations of the President Jan 2024

    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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