Original disclosure @ ADB website
Updated in EWS May 8, 2023
Disclosed by Bank Apr 17, 2023
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According to the bank's website, "the transaction involves the administration by the Asian Development Bank (ADB) of an equity investment of up to $4,000,000, with an initial investment of up to $1,200,000, in Selex Smart Electric Vehicles JSC (Selex), a company headquartered in Viet Nam. The investment is to be provided by the ADB Ventures Investment Fund 1 under the ADB Ventures Financing Partnership Facility. The balance of the approved amount may be invested as equity or quasi-equity in subsequent fundraising rounds that Selex is expected to undertake. Consistent with the established fund documents, ADB will not invest its own capital alongside the fund."
Private Sector Operations Department
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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.