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According to the Bank’s website, the project will support Lhoopa to capitalize on its success to date, grow its capacity to acquire, renovate, construct and sell affordable properties, and achieve its goal of delivering 4,000 affordable houses annually in the Philippines by 2025 and 8,000 by 2028 from around 1,000 in 2022.
Environment: B
Involuntary Resettlement: C
Indigenous Peoples: C
The project is classified as category B for environment. The anticipated environmental impacts are mainly attributed to construction activities. The scale of environmental impacts varies across different asset types, which include (i) existing house and lots (for renovation); (ii) single lots; (iii) groups of lots with a minimum 30 units; and (iv) raw (undeveloped) land. Lhoopa conducts due diligence, which mainly considers the business risks and compliance requirements. The only environment-related criteria in property selection are the risk for flooding and earthquake damage. Lhoopa only conducts environmental impact and risk assessment when required by regulatory agencies.
Loan (Ordinary capital resources): USD 20.00 million
Lhoopa is a property technology venture that leverages data & advanced solutions to empower local partners in providing affordable homes in emerging markets.
Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
---|---|---|---|---|---|---|
- | - | - | - | Lhoopa, Inc. | Client | - |
No contacts available at the time of disclosure.
ACCESS TO INFORMATION
You can submit an information request for project information at: https://www.adb.org/forms/request-information-form
ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals
ACCOUNTABILITY MECHANISM OF ADB
The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main.