Asia Impact Investment Fund II (IFC-45110)

Countries
  • Singapore
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
May 31, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
ASIA IMPACT INVESTMENT FUND II
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 13, 2024

Disclosed by Bank Apr 7, 2021

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The proposed investment is for up to US$15m (not to exceed 20% of total commitments) in UOB Asia Impact Investment Fund II L.P (“AIIF II”, or “the Fund”), a US$100m (target) private equity fund established by UOB Venture Management Private Limited (“the Manager” or “UOBVM”), a subsidiary of United Overseas Bank Limited (“UOB”). The Fund is established in co-operation with Credit Suisse AG, Singapore branch (“CS”), acting as Impact Advisor. The Fund will invest in companies in China and Southeast Asia (“SE Asia”) which develop or scale commercial solutions to meet the demands of people at the base of the economic pyramid (“BoP”), primarily in the sectors of agriculture, education, healthcare, housing, sanitation, water, transportation, clean energy and financial services. Allocation to China will be capped at 40%.

According to the IFC, this project has an environmental and social risk category of FI-2.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The proposed IFC investment is up to US$15 million, not to exceed 20% of total commitments. 

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

According to the IFC, UOBVM is an established middle-market manager with over 15 years of experience of investing in SMEs in SE Asia and China. The UOBVM team leading AIIF II consists of Kian-Wee Seah, Mark Yeo Wee Tiong, Thng Tien Tat and Clarissa Loh Su Hui.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

UOBVM
Clarissa Loh
Senior Director, UOBVM
+65 6539 3523
clarissa.lohsh@uobgroup.com
80 Raffles Place #30-20 UOB Plaza 2 Singapore 048624
www.uobvm.com.sg

 

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

How it works

How it works