Ayala Electric Mobility Ecosystem Project (ADB-58092-001)

Countries
  • Philippines
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
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
Nov 20, 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
Ayala Corporation
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Transport
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)
$ 100.00 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.
Project Cost (USD)
$ 100.00 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.
Bank Documents
Media Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Mar 26, 2025

Disclosed by Bank Oct 1, 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, the proposed transaction will involve ADB OCR loan of up to $85 million (in PHP or USD) and concessional loan of up to $15 million (in USD). The fund will support Ayala Corporation's (Ayala) initiative in building an electric mobility (e-mobility) ecosystem in the Philippines, including (i) the procurement and installation of electric vehicle charging stations (EVCS) and (ii) the procurement of electric vehicles (EVs) for distribution operation.

The package includes a concessional loan from the Canadian Climate and Nature Fund for the Private Sector in Asia (CANPA). ADB's financing, along with the concessional loan, will be used to develop a network of EVCS in the Philippines.

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.

Considering available project information, the Ayala Electric Mobility Ecosystem Project is classified under Category B for Environment and Category C for both Involuntary Resettlement and Indigenous Peoples.

The project is determined as Category B for Environment since the intensity of the anticipated project impacts during construction and operation of EVCS is low, with short-lived to temporary duration and limited to local scope.

In terms of Involuntary Resettlement, the project is considered as Category C since there will be no involuntary land acquisition nor involuntary land restriction for the EVCS sites nor will be located in properties which have land legacy issues.

Likewise, the project is identified as Category C for Indigenous Peoples since it has no anticipated impacts on Indigenous Peoples. The proposed EVCS locations are within existing built-up, urbanized areas and will not encroach on any identified Certificate of Ancestral Domain Title (CADT) area or install in any environmentally sensitive areas (such as in any protected forest) or near any environmentally sensitive receptors (schools, churches, hospitals, etc.).

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

Loan (Ordinary capital resources): up to USD 85.00 million

Loan (Canadian Climate and Nature Fund for the Private Sector in Asia): USD 15.00 million

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.

Ayala Corporation is the publicly listed holding company for the diversified interests of the Ayala Group. Founded in the Philippines, the company has a portfolio of diverse business interests, including investments in retail, education, real estate, banking, telecommunications, water infrastructure, renewable energy, electronics, information technology, automotive, healthcare, management, and business process outsourcing. 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Ayala Corporation 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.

AC Mobility Holdings Inc. (AMHI)
Address: 38th Floor, Ayala Triangle Gardens Tower 2, Paseo de Roxas cor.
Makati Avenue, Urdaneta, Makati City, Metro Manila, NCR, Philippines

Ma. Alicia Carla Buencamino
Group Head, AMHI

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.

How it works

How it works