Administration of Equity Investment for Fairbanc Private Limited: Report and Recommendation of the President
Reports and Recommendations of the President | June 2021
The transaction involves the administration by the Asian Development Bank (ADB) of an investment of up to the equivalent of $2,000,000, with an initial investment of up to $500,000 as a convertible promissory note in a nonoperating holding company called Fairbanc Pte. Ltd. (Fairbanc) in Singapore to expand its operations in Indonesia (conducted through its operating subsidiary in Indonesia, PT Fairbanc Technologies Indonesia), to be provided by the ADB Ventures Investment Fund 1 under the ADB Ventures Financing Partnership Facility.
The report and recommendation of the President to the Board of Directors (RRP) document describes the terms and conditions of a project for consideration and approval by ADB's Board of Directors.
This document dated June 2021 is provided for the ADB project 55175-001 in Indonesia.