JAKARTA, INDONESIA (8 November 2022)— The Asian Development Bank (ADB) has subscribed to around 1 billion shares, worth $12.2 million (approximately 190 billion Indonesian rupiah), as part of the initial public offering (IPO) of PT Jayamas Medica Industri (OneMed) on the Indonesian Stock Exchange.
The proceeds of the IPO will support operational expansion across OneMed’s value chain by doubling the manufacturing facilities from two to four, the number of national distribution centers from one to two, adding 15 warehouses, and 25 new retail stores. The availability of affordable medical equipment and supplies is critical for the sustainability and expansion of Indonesia’s national health insurance program, Jaminan Kesehatan Nasional.
“Developing domestic production is a pivotal step toward self-sufficiency for health care in Indonesia,” said ADB Private Sector Operations Department's Unit Head of Health and Education Investments Aniruddha Patil. “Supporting OneMed’s strong local presence in Indonesia will help strengthen Indonesia’s health care resilience and deliver better health outcomes for its citizens.”
“We greatly appreciate ADB’s support for our IPO and I look forward to working with the bank,” said OneMed President Commissioner Jemmy Hartanto. “The investment will help sustain OneMed’s commitment to support universal health care in Indonesia and to improve the overall level of health care in the country.”
Established in 2002, OneMed is the largest manufacturing and distribution company of medical equipment and supplies in Indonesia, covering 514 cities and 34 provinces. OneMed has the most comprehensive portfolio of medical equipment and supplies in the country, with key products including syringes, medical gloves, antiseptics and disinfectants, and infusion sets.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.
ADB Signs $44.2 Million Blue Loan with ALBA to Reduce Ocean Plastic Waste in Indonesia
JAKARTA, INDONESIA (6 June 2023) — The Asian Development Bank (ADB) signed a $44.2 million blue loan with PT ALBA Tridi Plastics Recycling Indonesia, an ALBA Group Asia company, to establish a polyethylene terephthalate (PET) recycling facility in Central Java.
ADB and the Leading Asia's Private Infrastructure Fund (LEAP) will each provide $22.1 million in funding for the project. Blue loans are financing instruments that aim to safeguard access to clean water, protect underwater environments, and invest in a sustainable water economy.
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The financing partners of the Asian Development Bank (ADB) committed $11.4 billion in cofinancing of ADB projects in 2022 to help build the resilience of developing member countries and enable them to withstand economic shocks, according to the Partnership Report 2022: Driving Growth, Boosting Resilience.
ADB Helps Launch Vocational Education Project in PNG
ADB and the governments of Australia and Papua New Guinea today launched a cofinanced project to improve the country’s technical and vocational education and training program.
ADB to Focus on Robust, Climate-Resilient, and Inclusive Growth in India
ADB has launched a new country partnership strategy for India with a focus on deepening its engagement with the country and supporting India’s drive for robust, climate-resilient, and inclusive growth.
Environmental monitoring reports describe the environmental issues or mitigation measures of a project.
This document dated July 2022 is provided for the ADB project 50316-001 in Pakistan.
MANILA, PHILIPPINES (22 August 2022) — The Asian Development Bank (ADB) signed a $60 million equity investment in OrbiMed Asia Partners V, LP (OAP V), a private equity fund managed by OrbiMed Advisors LLC (OrbiMed), to further enhance health care quality and coverage in India and the People’s Republic of China (PRC).
OAP V is expected to provide mainly growth capital to between 20 and 25 health care companies across the biopharma, medical technology, health care services, diagnostics, and distribution subsectors. Investment sizes will typically range from $10 million to $50 million per company.
“ADB’s investment in OAP V advances its efforts to mobilize private sector financing for long-term health care solutions in developing Asia,” said ADB Private Sector Investment Funds and Special Initiatives Division Director Janette Hall. “Greater health care capacity is more important than ever as we recover from the pandemic, which has also exposed the need for more innovative services and digital health technologies. ”
This is ADB’s fourth investment in an OrbiMed-managed health care fund, following previous commitments in OrbiMed Asia Partners II, LP in 2014, OrbiMed Asia Partners III, LP in 2017, and OrbiMed Asia Partners II, LP in 2021.
"OAP V is expected to deliver effective and sustainable health care solutions and to support research and development in disease detection and vaccine production," said Ms. Hall. Health care is one of the fastest-growing sectors in India and the PRC, driven by demand from a growing middle class. Health care expenditure per capita in both countries increased by more than 5% annually during 2009–2019.
OrbiMed is a leading global health care investment firm, with about $17 billion in assets under management across a range of private equity funds, public equity funds, and private credit and royalty funds. OrbiMed invests across the health care industry, from start-ups to large multinational corporations, providing tailored financing solutions and extensive global team resources to help build world-class health care companies.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.
ADB Signs $44.2 Million Blue Loan with ALBA to Reduce Ocean Plastic Waste in Indonesia
JAKARTA, INDONESIA (6 June 2023) — The Asian Development Bank (ADB) signed a $44.2 million blue loan with PT ALBA Tridi Plastics Recycling Indonesia, an ALBA Group Asia company, to establish a polyethylene terephthalate (PET) recycling facility in Central Java.
ADB and the Leading Asia's Private Infrastructure Fund (LEAP) will each provide $22.1 million in funding for the project. Blue loans are financing instruments that aim to safeguard access to clean water, protect underwater environments, and invest in a sustainable water economy.
ADB Records $11.4 Billion in Cofinancing, Focused on Resilience Against Economic Shocks
The financing partners of the Asian Development Bank (ADB) committed $11.4 billion in cofinancing of ADB projects in 2022 to help build the resilience of developing member countries and enable them to withstand economic shocks, according to the Partnership Report 2022: Driving Growth, Boosting Resilience.
ADB Helps Launch Vocational Education Project in PNG
ADB and the governments of Australia and Papua New Guinea today launched a cofinanced project to improve the country’s technical and vocational education and training program.
ADB to Focus on Robust, Climate-Resilient, and Inclusive Growth in India
ADB has launched a new country partnership strategy for India with a focus on deepening its engagement with the country and supporting India’s drive for robust, climate-resilient, and inclusive growth.
Social monitoring reports provide the status of social issues or mitigation measures related to project implementation.
This document dated June 2022 is provided for the ADB project 50316-001 in Pakistan.
Annual audited project financial statements for sovereign operations provide project financial information prepared in accordance with generally accepted accounting principles and audited by an independent certified public accountant.
This document dated 5 August 2022 is provided for the ADB project 41509-013 in Papua New Guinea.
Annual audited project financial statements for sovereign operations provide project financial information prepared in accordance with generally accepted accounting principles and audited by an independent certified public accountant.
This document dated 5 January 2022 is provided for the ADB project 51141-002 in Bhutan.
This study provides useful information and insights on strengthening the public health infrastructure of Maharashtra, the largest state economy, second most populous, and third most urbanized state in India.
Safeguards due diligence reports are prepared as part of safeguard due diligence and review to ensure compliance with ADB safeguard policy due diligence requirements.
This document dated October 2021 is provided for the ADB project 50316-001 in Pakistan.
Annual audited project financial statements for sovereign operations provide project financial information prepared in accordance with generally accepted accounting principles and audited by an independent certified public accountant.
This document dated 27 December 2021 is provided for the ADB project 41509-013 in Papua New Guinea.
MANILA, PHILIPPINES (3 February 2021) — The Asian Development Bank (ADB) and DCDC Healthcare Services Private Limited (DCDC) signed a $10 million equity investment to increase the company’s capacity to provide renal treatment services in India.
The ADB investment will be placed in equivalent Indian rupees and includes a $5 million equity investment made on behalf of Leading Asia’s Private Infrastructure Fund (LEAP), which is supported by the Japan International Cooperation Agency (JICA).
An investment of $11.5 million (in equivalent Indian rupees) is provided by the Danish development finance institution, Investment Fund for Developing Countries (IFU), on behalf of the Danish Sustainable Development Goals Investment Fund which is backed by the Government of Denmark, leading Danish pension funds, and other private and institutional investors.
The equity will accelerate DCDC’s growth to double treatment capacity before 2025 to improve access to affordable dialysis for patients across India. More than one million people need regular dialysis in India. Chronic kidney disease is often diagnosed at an advanced stage when it is too late to restore regular kidney functions, requiring three dialysis sessions a week.
“The relatively high cost of renal care treatment coupled with travel expenses and scarce dialysis services can damage income and employment prospects especially at low-income households,” said ADB Principal Investment Specialist Samarendra Singh. “ADB and IFU’s combined support aims to ensure DCDC’s continued robust operations and expand its reach in India.”
“DCDC’s focus on providing treatment for mostly the economically weaker section of India’s population fits well with IFU’s investment strategy of contributing towards a more just and inclusive economy,” said IFU Senior Investment Manager Emil Sierczynski. “We are pleased to partner with DCDC and ADB, a well-run partnership with a clear purpose, and look forward to taking an active part of the company’s growth and impact journey.”
“We are excited to partner with IFU as well as to strengthen our existing relationship with ADB as it will be help us to create a more robust dialysis platform across India,” said DCDC Founder and Director Aseem Garg. “The complementing values present synergy towards development of dialysis infrastructure which will prove to be a boon for ailing patients of chronic kidney disease, especially the poor.”
DCDC is India’s largest operator of public–private partnership (PPP) dialysis centers. Since ADB’s first round of investment in 2018, the company has established 24 new PPP centers in government hospitals. DCDC now has more than 100 centers in public hospitals, private hospitals, and as stand-alone clinics.
LEAP was established in 2016 with a $1.5 billion capital commitment from JICA. It is focused on delivering high quality and sustainable private sector infrastructure projects that reduce carbon emissions, improve energy efficiency, and offer accessible and affordable health care, education, and communication services to ADB’s developing member countries.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.
ADB Signs $44.2 Million Blue Loan with ALBA to Reduce Ocean Plastic Waste in Indonesia
JAKARTA, INDONESIA (6 June 2023) — The Asian Development Bank (ADB) signed a $44.2 million blue loan with PT ALBA Tridi Plastics Recycling Indonesia, an ALBA Group Asia company, to establish a polyethylene terephthalate (PET) recycling facility in Central Java.
ADB and the Leading Asia's Private Infrastructure Fund (LEAP) will each provide $22.1 million in funding for the project. Blue loans are financing instruments that aim to safeguard access to clean water, protect underwater environments, and invest in a sustainable water economy.
ADB Records $11.4 Billion in Cofinancing, Focused on Resilience Against Economic Shocks
The financing partners of the Asian Development Bank (ADB) committed $11.4 billion in cofinancing of ADB projects in 2022 to help build the resilience of developing member countries and enable them to withstand economic shocks, according to the Partnership Report 2022: Driving Growth, Boosting Resilience.
ADB Helps Launch Vocational Education Project in PNG
ADB and the governments of Australia and Papua New Guinea today launched a cofinanced project to improve the country’s technical and vocational education and training program.
ADB to Focus on Robust, Climate-Resilient, and Inclusive Growth in India
ADB has launched a new country partnership strategy for India with a focus on deepening its engagement with the country and supporting India’s drive for robust, climate-resilient, and inclusive growth.
