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Private Sector (Nonsovereign) Financing

ADB focuses on projects that help promote private investments in the region that will have significant development impact and will lead to accelerated, sustainable, and inclusive growth.

Meet Our Team

Management

Suzanne GABOURY
Suzanne GABOURY
Director General
  E-mail

Christopher THIEME
Christopher THIEME
Deputy Director General
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Craig ROBERTS
Craig ROBERTS
Senior Advisor
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Transaction Teams

Shantanu CHAKRABORTY
Shantanu CHAKRABORTY
Director, Infrastructure Finance Division 1
  E-mail

Countries and regions covered:
Central and West Asia: Afghanistan, Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Pakistan, Tajikistan, Turkmenistan, Uzbekistan
South Asia: Bangladesh, Bhutan, India, Maldives, Nepal, Sri Lanka


Jackie Surtani
Jackie SURTANI
Director, Infrastructure Finance Division 2
  E-mail

Countries and regions covered:
East Asia: People’s Republic of China, Mongolia
Southeast Asia: Cambodia, Indonesia, Lao People's Democratic Republic, Malaysia, Myanmar, Philippines, Thailand, Viet Nam
The Pacific: Cook Islands, Fiji, Kiribati, Marshall Islands, Federated States of Micronesia, Nauru, Palau, Papua New Guinea, Samoa, Solomon Islands, Timor-Leste, Tonga, Tuvalu, Vanuatu


Christine ENGSTROM
Christine ENGSTROM
Director, Financial Institution Division
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Janette HALL
Janette HALL
Director, Investment Funds and Special Initiatives Division
  E-mail

Steven BECK
Steven BECK
Advisor and Head of Trade and Supply Chain Finance
  E-mail

Martin LEMOINE
Martin LEMOINE
Unit Head, Food and Agribusiness Investment Team
  E-mail

Sherwin PU
Sherwin PU
Unit Head, Business Development Team
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Aniruddha PATIL
Aniruddha PATIL
Unit Head, Health and Education Investments
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Equity Investments

Joseph BERGIN
Joseph BERGIN
Advisor, Private Sector Operation Department and Head, Equity Investments Unit
  E-mail

Guarantees and Syndication

Bart RAEMAEKERS
Bart RAEMAEKERS
Advisor, Private Sector Operation Department and Head, Guarantees and Syndications Unit
  E-mail

Portfolio Management

Craig ROBERTS
Marife APILADO
Director, Portfolio Management Division
  E-mail

Risk Analytics

Timo TEINILA
Timo TEINILA
Advisor, Office of the Director General and Head, Risk Analytics Unit
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Singapore Regional Office

Sonali TANG
Sonali TANG
Regional Director, ADB Singapore Office
  Tel 65-6216 1802
  E-mail
Asian Development Bank Singapore Office
12 Marina Boulevard
37-03 Marina Bay Financial Centre, Tower 3
Singapore 018982
ADB Singapore Office General Line:
  Tel 65-6216 1800
  Tel 65-6216 1801

Transaction Support

Mark KUNZER
Mark KUNZER
Director, Transaction Support Division
  E-mail

General Inquiries

Private Sector Operations Department
Asian Development Bank
6 ADB Avenue, Mandaluyong City 1550, Metro Manila, Philippines
  Tel +632 8632 5280
  Request information
  Download: ADB's Private Sector Operations brochure

Microfinance Risk Participation Program
Anshukant TANEJA (Mr)
Principal Investment Specialist
  E-mail
  ADB's Microfinance Program

Trade and Supply Chain Finance Program
Trade Finance Unit
Private Sector Operations Department
  Tel +632 8632 6401
  Tel +632 8636 2448
  E-mail
  Trade Finance Unit contacts
  TFP Relationship Management Team

Supply Chain Finance Program
Sunil MASCARENHAS (Mr)
  E-mail
  Program inquiries
  ADB's Supply Chain Finance Program

Private Sector Country Focal Points

ADB Location

You may contact private sector operations focal points in specific countries by selecting a country from the dropdown

Azim HASHIMI (Mr) Infrastructure Sector   E-mail
Asif CHEEMA (Mr) Financial Sector   E-mail
Tina ROHNER (Ms) Financial Sector   E-mail
Sonali TANG (Ms) Infrastructure Sector   E-mail
Asif CHEEMA (Mr) Financial Sector    E-mail
Tina ROHNER (Ms) Financial Sector   E-mail
Ichiro AOKI (Mr) Infrastructure Sector   E-mail
Asif CHEEMA (Mr) Financial Sector   E-mail
Tina ROHNER (Ms) Financial Sector   E-mail
Sonali TANG (Ms) Infrastructure Sector   E-mail
Susan OLSEN (Ms) Financial Sector   E-mail
Ichiro AOKI (Mr) Infrastructure Sector   E-mail
Susan OLSEN (Ms) Financial Sector   E-mail
Shuji HASHIZUME (Mr) Infrastructure Sector   E-mail
Paul FLEGLER (Mr) Financial Sector   E-mail
Hisaka KIMURA (Ms) Infrastructure Sector   E-mail
Biao HUANG (Mr) Financial Sector   E-mail
Alix BURRELL (Ms) Infrastructure Sector   E-mail
Paul FLEGLER (Mr) Financial Sector   E-mail
Gema PEREZ (Ms) Financial Sector   E-mail
Alix BURRELL (Ms) Infrastructure Sector   E-mail
Paul FLEGLER (Mr) Financial Sector   E-mail
Gema PEREZ (Ms) Financial Sector   E-mail
Ichiro AOKI (Mr) Infrastructure Sector   E-mail
Asif CHEEMA (Mr) Financial Sector   E-mail
Tina ROHNER (Ms) Financial Sector   E-mail
Mayank CHOUDHARY (Mr) Infrastructure Sector   E-mail
Susan OLSEN (Ms) Financial Sector   E-mail
Apurva KUMAR (Mr) Financial Sector   E-mail
Yuichiro YOI (Mr) Infrastructure Sector   E-mail
Paul FLEGLER (Mr) Financial Sector   E-mail
Alibek ABDRAKHMANOV (Mr) Infrastructure Sector   E-mail
Arman SEISSEBAYEV (Mr) Infrastructure Sector   E-mail
Asif CHEEMA (Mr) Financial Sector   E-mail
Tina ROHNER (Ms) Financial Sector   E-mail
Alix BURRELL (Ms) Infrastructure Sector   E-mail
Paul FLEGLER (Mr) Financial Sector   E-mail
Gema PEREZ (Ms) Financial Sector   E-mail
Alibek ABDRAKHMANOV (Mr) Infrastructure Sector   E-mail
Arman SEISSEBAYEV (Mr) Infrastructure Sector   E-mail
Tina ROHNER (Ms) Financial Sector   E-mail
Asif CHEEMA (Mr) Financial Sector   E-mail
Robert LOCKHART (Mr) Infrastructure Sector   E-mail
Paul FLEGLER (Mr) Financial Sector   E-mail
Michael GABISCH (Mr) Infrastructure Sector   E-mail
Anshukant TANEJA (Mr) Financial Sector   E-mail
Mayank CHOUDHARY (Mr) Infrastructure Sector   E-mail
Susan OLSEN (Ms) Financial Sector   E-mail
Apurva KUMAR (Mr) Financial Sector   E-mail
Alix BURRELL (Ms) Infrastructure Sector   E-mail
Paul FLEGLER (Mr) Financial Sector   E-mail
Gema PEREZ (Ms) Financial Sector   E-mail
Alix BURRELL (Ms) Infrastructure Sector   E-mail
Paul FLEGLER (Mr) Financial Sector   E-mail
Gema PEREZ (Ms) Financial Sector   E-mail
Hisaka KIMURA (Ms) Infrastructure Sector   E-mail
Biao HUANG (Mr) Financial Sector   E-mail
Daniel WIEDMER (Mr) Infrastructure Sector   E-mail
Janet HYDE (Ms) Financial Sector   E-mail
Paul FLEGLER (Mr) Financial Sector   E-mail
Alix BURRELL (Ms) Infrastructure Sector   E-mail
Paul FLEGLER (Mr) Financial Sector   E-mail
Gema PEREZ (Ms) Financial Sector   E-mail
Sonali TANG (Ms) Infrastructure Sector   E-mail
Wolfgang POCHEIM (Mr) Infrastructure Sector   E-mail
Susan OLSEN (Ms) Financial Sector   E-mail
Apurva KUMAR (Mr) Financial Sector   E-mail
Azim HASHIMI (Mr) Infrastructure Sector   E-mail
Asif CHEEMA (Mr) Financial Sector   E-mail
Tina ROHNER (Ms) Financial Sector   E-mail
Alix BURRELL (Ms) Infrastructure Sector   E-mail
Paul FLEGLER (Mr) Financial Sector   E-mail
Gema PEREZ (Ms) Financial Sector   E-mail
Alix BURRELL (Ms) Infrastructure Sector   E-mail
Paul FLEGLER (Mr) Financial Sector   E-mail
Gema PEREZ (Ms) Financial Sector   E-mail
Alix BURRELL (Ms) Infrastructure Sector   E-mail
Kevin MOSS (Mr) Infrastructure Sector   E-mail
Rafael MONTINOLA (Mr) Infrastructure Sector   E-mail
Anshukant TANEJA (Mr) Financial Sector   E-mail
Irene CHUA (Ms) Financial Sector   E-mail
Alix BURRELL (Ms) Infrastructure Sector   E-mail
Paul FLEGLER (Mr) Financial Sector   E-mail
Gema PEREZ (Ms) Financial Sector   E-mail
Alix BURRELL (Ms) Infrastructure Sector   E-mail
Paul FLEGLER (Mr) Financial Sector   E-mail
Gema PEREZ (Ms) Financial Sector   E-mail
Mayank CHOUDHARY (Mr) Infrastructure Sector   E-mail
Azim HASHIMI (Mr) Infrastructure Sector   E-mail
Susan OLSEN (Ms) Financial Sector   E-mail
Apurva KUMAR (Mr) Financial Sector   E-mail
Alibek ABDRAKHMANOV (Mr) Infrastructure Sector   E-mail
Tina ROHNER (Ms) Financial Sector   E-mail
Asif CHEEMA (Mr) Financial Sector   E-mail
Won Myong HONG (Mr) Infrastructure Sector   E-mail
Pamela BRACEY (Ms) Financial Sector   E-mail
Alix BURRELL (Ms) Infrastructure Sector   E-mail
Paul FLEGLER (Mr) Financial Sector   E-mail
Gema PEREZ (Ms) Financial Sector   E-mail
Alix BURRELL (Ms) Infrastructure Sector   E-mail
Paul FLEGLER (Mr) Financial Sector   E-mail
Gema PEREZ (Ms) Financial Sector   E-mail
Azim HASHIMI (Mr) Infrastructure Sector   E-mail
Tina ROHNER (Ms) Financial Sector   E-mail
Asif CHEEMA (Mr) Financial Sector   E-mail
Alix BURRELL (Ms) Infrastructure Sector   E-mail
Paul FLEGLER (Mr) Financial Sector   E-mail
Gema PEREZ (Ms) Financial Sector   E-mail
Alibek ABDRAKHMANOV (Mr) Infrastructure Sector   E-mail
Rainier HARTEL (Mr) Financial Sector   E-mail
Asif CHEEMA (Mr) Financial Sector   E-mail
Alix BURRELL (Ms) Infrastructure Sector   E-mail
Paul FLEGLER (Mr) Financial Sector   E-mail
Gema PEREZ (Ms) Financial Sector   E-mail
Michael GABISCH (Mr) Infrastructure Sector   E-mail
Paul FLEGLER (Mr) Financial Sector   E-mail
Adnan RAFIQ (Mr) Financial Sector   E-mail
Sonali TANG (Ms) Regional Director   Tel 65-6216 1802
  E-mail Asian Development Bank Singapore Office
12 Marina Boulevard
37-03 Marina Bay Financial Centre, Tower 3
Singapore 018982
ADB Singapore Office General Line:
  Tel 65-6216 1800
  Tel 65-6216 1801

Meet PSOD staff

Join our Team

Staff from the Private Sector Operations Department discuss what drew them to this dynamic area of ADB's work, how they like living in Manila, and what they enjoy away from the office.

Guarantees and Syndications Team

Bart RaemaekersBart RAEMAEKERS

Advisor, Private Sector Operations Department and Head, Guarantees and Syndications Unit

Mr. Raemaekers obtained his Masters in Economics at Tilburg University in the Netherlands. He majored in Finance and Development and did assignments at the United Nations in New York, and in Abidjan, the Ivory Coast.

Mr. Raemaekers spent eleven years in various capacities with ABN AMRO Bank, seven years of which in structured export finance. In Amsterdam and London, he focused on multi sourced export finance transactions with borrowers in Latin America and worked frequently with Private Risk Insurers, ECAs and other risk mitigation providers. From Chicago, Mr. Raemaekers financed US exports world-wide by offering clients multi product solutions including ECA, PRI, syndicated loans, derivative and tax products.

In 2008, Mr. Raemaekers joined the Asian Development Bank. Mr. Raemaekers is Head of the Guarantees and Syndications Unit (GSU), in ADB’s Private Sector Operations Department (PSOD). PSOD is responsible for all Private sector (or Non-sovereign) financing and investments - structuring and funding investments, across the capital structure, in privately held and state-sponsored companies across a wide range of industry sectors throughout developing Asia. Mr. Raemaekers’ GSU mandate is to support ADB’s sovereign and non-sovereign operations with distribution, credit enhancements, at origination and execution.

Loan Syndications

Tarang KhimasiaTarang KHIMASIA

Principal Investment Specialist (Syndications)

Mr. Tarang Khimasia is a national of United Kingdom. He completed his degree in Management Sciences & Finance from the University of Manchester Institute of Science and Technology (UMIST), United Kingdom in 1997. Mr. Khimasia has more than 20 years of professional banking experience.

Mr. Khimasia is a Principal Specialist in the Guarantees and Syndications Unit (GSU) within the Private Sector Operations Department (PSOD) of the Asian Development Bank (ADB) and is based in Manila, Philippines. PSOD is responsible for all Private sector (or Non-sovereign) financing and investments - structuring and funding investments across the capital structure in privately held and state-sponsored companies across a wide range of industry sectors throughout developing Asia. GSU is mandated to mobilise commercial (private sector) and official financiers to co-finance alongside ADB’s PSOD on commercial terms. In addition, GSU supports ADB’s sovereign and non-sovereign operations with the origination & execution of credit enhancements, through the provision of partial risk guarantees and partial credit guarantees to catalyse capital flows from commercial sources and allow financing partners to transfer to ADB certain risks they cannot easily absorb or manage on their own. Mr Khimasia joined the ADB in August 2016.

Prior to joining the ADB he has spent 6 years with Standard Chartered Bank (SCB) based in Singapore and Dubai. Before this he spent 12 years with Dresdner Kleinwort Wasserstein (a boutique investment bank) based in London. Mr Khimasia spent 18 years at both these institutions in various capacities, leading teams across the entire debt advisory spectrum. Over the years Mr Khimasia has focused on origination and syndication of project and acquisition loans, providing bespoke private financing solutions ranging from senior notes & mezzanine notes though to pre-IPO structures, pricing & syndicating large corporate and financial institution public market fixed income bonds, debt repackaging, illiquid debt monetisation, strategic loan portfolio disposals via restructuring units and “bad banks” and single asset securitisations.

Mohsin MohsinMohsin MONNOO

Senior Investment Specialist (Syndications)

Mohsin obtained his Bachelors degree at the University of Toronto. He double majored in Economics and International Relations and completed a minor in History.

Mohsin spent eleven years in various capacities with Standard Chartered Bank, seven years of which were in the bank’s Debt Capital Markets team. In Singapore, he focused on loan syndications for borrowers in the ASEAN region and distributed into a varied set of investors. Mohsin has worked on syndicating leveraged loans, working capital and trade facilities as well as event driven financings.

In 2018, Mohsin joined the Asian Development Bank as a Senior Investment Specialist within the Guarantees and Syndications Unit (GSU), in ADB’s Private Sector Operations Department (PSOD). PSOD is responsible for all Private sector (or Non-sovereign) financing and investments - structuring and funding investments, across the capital structure, in privately held and state-sponsored companies across a wide range of industry sectors throughout developing Asia. Mohsin’s mandate is to support ADB’s sovereign and non-sovereign operations through various funded and unfunded distribution channels.

Lingkai LiLingkai LI

Investment Specialist (Syndications)

Lingkai holds a Master of Science in Development Administration and Planning from University College London. He also holds a Bachelor of Arts in Marketing from University of Bedfordshire and a Bachelor of Arts in International Economics and Business from China Agricultural University.

Lingkai joined the Private Sector Operations Department (PSOD) within ADB in 2016. PSOD is responsible for all private sector (or non-sovereign) financing and investments - structuring and funding investments, across the capital structure, in privately held and state-sponsored companies across a wide range of industry sectors throughout developing Asia. Lingkai spent five years with the Portfolio Management Division (outposted to the PRC Resident Mission), where he focused on the portfolio monitoring and management of PSOD’s financing and investments in the PRC, including infrastructure, financial institutions and agribusiness. In June 2021, Lingkai joined the Guarantees and Syndications Unit, where his mandate is to support ADB’s sovereign and non-sovereign operations through various funded and unfunded distribution channels.

Prior joining ADB, Lingkai spent six years in various capacities with the Export-Import Bank of China, where he focused on ECA finance, leveraged loans and syndicated facilities on shipping, offshore oil & gas, and aviation transactions.

General Inquiries

To contact the Guarantees and Syndications Team, send us an   email

Risk Transfers/ Guarantees (Nonsovereign)

Dennis EucogcoDennis EUCOGCO

Principal Investment Specialist (Guarantees and Syndications)

Mr. Eucogco obtained his Masters in China Studies and Economics from the Johns Hopkins School of Advanced International Studies and his Bachelors degree in International Relations from James Madison University.

Mr. Eucogco spent eleven years in various capacities with the Credit and Political Risk team at Zurich Insurance Company, first in Washington, DC and then in Beijing and Singapore. In Beijing he worked primarily with local banks and the Chinese ECA, providing insurance coverage for structured commodity finance transactions and ECA-supported infrastructure deals. From Singapore, Mr. Eucogco assumed a more regional role working on short-term export trade finance political risk insurance.

In 2017, Mr. Eucogco joined the Asian Development Bank as a Senior Guarantees and Syndications Specialist within the Guarantees and Syndications Unit (GSU), in ADB’s Private Sector Operations Department (PSOD). PSOD is responsible for all Private sector (or Non-sovereign) financing and investments - structuring and funding investments, across the capital structure, in privately held and state-sponsored companies across a wide range of industry sectors throughout developing Asia. Mr. Eucogco’s mandate is to support ADB’s sovereign and non-sovereign operations with credit enhancements origination and execution.

Aarti MehraAarti MEHRA

Principal Investment Specialist (Guarantees and Syndications)

Ms. Mehra holds a Masters in Business Administration from the Faculty of Management Studies, Delhi University. She also holds a Bachelor of Arts (Hons) in Economics from St Stephen’s College, Delhi University.

Ms. Mehra joined ADB at Manila in 2019 and has a prior career in Investment and Commercial Banking spanning 25 years. She contributes to the achievement of ADB’s development targets by enabling local currency lenders, bond investors, private risk insurance markets, funds and selected public agencies to join its projects.

Based out of Singapore, prior to moving to Manila, she originated structured financing business across Asian geographies with a focus on sectors such as energy, natural resources, infrastructure, hard and soft commodity trading, metal processing, building materials and logistics. Her multi-disciplinary product skills overlay this geographical and sectoral experience, with Ms Mehra having led and grown a regional business in Structured Commodity Finance at MUFG, led Project and Structured Export Finance deal teams at Deutsche Bank and been the Global Product Manager for Structured Trade Finance at ANZ. Her involvement in projects was end-to-end and included pricing, structuring, risk analysis and leading clubs of lenders.

Guarantees (Sovereign)

Alexander JettAlexander JETT

Senior Investment Specialist (Guarantees)

Alexander focuses on sovereign credit enhancement as well as guarantees using donor funds which offer concessional pricing. He has over 15 years of experience supporting Public-Private Partnerships in Latin America and Asia. He managed the Asia Pacific Project Preparation Facility (with over $73 million funds for project preparation) and supported PPP operations in Timor-Leste, Viet Nam, Cambodia, Bangladesh, Bhutan and Kazakhstan. By sector, he has structured highway, seaport, solar power, gas power, and municipal water projects.

Prior to joining ADB in 2015, Alexander was a member of the World Bank’s PPP Group in Singapore and the Financial Solutions Unit in Washington DC. In Asia, he was part of the World Bank’s Team tasked with creating a bankable pipeline of PPP projects for the ASEAN secretariat. In Latin America he worked on projects in Brazil, Mexico and Uruguay. He is a fluent in Spanish and speaks basic Russian.

Alexander has a Master of Arts in International Economics and International Relations from Johns Hopkins University and a Bachelor of Arts degree in International Studies from the University of Michigan-Dearborn.

Shota YamanakaShota YAMANAKA

Young Professional

Shota obtained his Bachelors degree at the Keio University, with a major in Policy Management. He pursued a Master’s degree in Foreign Service in Georgetown University, where he graduated in 2018, with distinction. He is currently a Chartered Financial Analyst Level 3 Candidate.

Prior to working in ADB, he has worked in JGC Corporation in Japan, J.P. Morgan Securities, World Bank, and the Japan Bank for International Cooperation. Shota’s rotation in GSU will be spent primarily on assisting with syndications and sovereign guarantees.