DARP SA ADM 3 (IFC-47915)

Regions
  • East Asia and Pacific
Geographic location where the impacts of the investment may be experienced.
Countries
  • Bangladesh
  • Cambodia
  • China
  • India
  • Indonesia
  • Malaysia
  • Mongolia
  • Nepal
  • Philippines
  • Sri Lanka
  • Thailand
  • Vietnam
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
Proposed
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
Feb 16, 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
ADM ASLF III
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Fund
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 60.00 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 Apr 11, 2024

Disclosed by Bank Jan 9, 2024

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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.

According to the bank's website, IFC's investment aims to "support the development of smart cities to enable a smooth transition to urbanization across emerging Asia, reducing strain on resources and supporting the delivery of more efficient, competitive, sustainable economies through technology and innovation".

 

The proposed investment is an IFC investment as an anchor investor for the lower of US$60 million or 20% of the total commitments in ADM Asia Secured Lending Fund III LP (ASLF III – Elkhorn or the Fund), which will be established and managed by Asia Debt Management Hong Kong Limited (ADM Capital or the Sponsor) and provide debt financing to small and medium-sized enterprises (SMEs) in emerging Asia that have strong fundamentals but have limited access to traditional lending (the Project). ASLF III – Elkhorn is a successor fund to Asia Secured Lending Facility Ltd (ASLF I) in 2012 and ADM Capital Somei Lending Platform Ltd (ASLF II) in 2016, in both of which IFC was an anchor investor. The Fund aims to support the development of smart cities to enable a smooth transition to urbanization across emerging Asia, reducing strain on resources and supporting the delivery of more efficient, competitive, sustainable economies through technology and innovation.

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.
Environmental Category

 


FI-2
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The proposed investment is IFC’s investment in the Fund at the lower of US$60 million or 20% of the total commitments in the Fund. The total size of the Fund is targeted at US$300 million.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - ADM ASLF III 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.

Asia Debt Management Hong Kong Limited
Hannah Topping
Director, Investor Relations
+852 2536 4567
Hannah.Topping@admcap.com
2801-05, Three Pacific Place, 1 Queen’s Road East, Hong Kong
www.admcapital.com

 

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