Investment in PAG Growth II L.P.: Report and Recommendation of the President

Reports and Recommendations of the President | May 2021

PAGG II aims to provide growth capital to a portfolio of 10–15 companies operating primarily in the health care, financial services, education, and information technology (IT) sectors mainly in the People’s Republic of China. The investment promotes private sector development in the People’s Republic of China, especially in secondary and tertiary markets such as Yantai, Nanjing, and Taizhou where equity capital availability is limited, and accessing traditional bank financing without hard assets to pledge as collateral remains challenging for growing companies.

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 May 2021 is provided for the ADB regional project 55076-001.

Linked Documents
  1. Sector Overview
  2. Ownership, Management, and Governance [Withheld from Public Disclosure in accordance with the Access to Information Policy (para. 17, 2)]
  3. Details of Implementation Arrangements
  4. Contribution to Strategy 2030 Operational Priorities
  5. Financial Analysis [Withheld from Public Disclosure in accordance with the Access to Information Policy (para. 17, 2)]
  6. Country Economic Indicators
  7. Summary Poverty Reduction and Social Strategy [Withheld from Public Disclosure in accordance with the Access to Information Policy (para. 17, 2)]
  8. Environmental and Social Management System: Audit Findings and Details of Arrangement [Withheld from Public Disclosure in accordance with the Access to Information Policy (para. 17, 2)]
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