Capitaland India Trust (IFC-47036)

Countries
  • India
Geographic location where the impacts of the investment may be experienced.
Specific Location
Bengaluru, Hyderabad, Chennai, Mumbai, and Pune
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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
Apr 26, 2024
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
CapitaLand India Trust
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Construction
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 248.23 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.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 27, 2024

Disclosed by Bank May 30, 2024

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Contact the EWS Team

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.

According to the Bank’s website, CapitaLand India Trust (CLINT or the Trust) is a prominent commercial real estate trust in India, with a portfolio of 19.6 million square feet of completed properties, comprising nine business parks, one logistics park, and three industrial facilities and is listed on the Singapore Exchange (“SGX”). IFC is proposing to invest up to 200 million Singapore dollars (approximately US$150 million) to the Trust through CLINT’s trustee-manager, CapitaLand India Trust Management Pte. Ltd. (the Trustee-Manager).

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The Project has been categorized as Category B according to IFC’s Policy on Environmental and Social Sustainability (2012) as it is expected to include limited adverse environmental or social risks and impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures.

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

The proposed IFC investment is a sustainability-linked unsecured loan of up to 200 million Singapore dollars (approximately US$150 million ) to CLINT through the Trustee-Manager.

Investment as approved by the board: 248.23 million (USD)

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.

CapitaLand India Trust - CLINT is managed by the Trustee-Manager, a wholly-owned subsidiary of Singapore-listed CLI, a leading global real estate investment manager that is part of the CapitaLand group and one of Asia’s largest diversified real estate groups, owning and managing real estate assets in several countries. CLI is also listed on the SGX.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - CapitaLand India Trust Management Pte. Ltd. Client -

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.

CapitaLand India Trust Management Pte. Ltd.
Cheah Ying Soon
Chief Financial Officer
+65 6713 2888
enquiries@clint.com.sg
168 Robinson Road, #30-01, Capital Tower, Singapore 068912
https://www.clint.com.sg/en.html

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

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How it works