ADB invests in firm

Thu, 09 Nov 1995

ADB invests in firm

MANILA (Reuter): The Asian Development Bank (ADB) said yesterday it had approved a 3.0 billion yen (US$29.1 million) investment in Asian Infrastructure Development Co Ltd (AIDEC), a multilateral investment company aimed at financing infrastructure projects in Asia.

In a statement, the Manila-based ADB said other major shareholders of AIDEC are Overseas Economic Cooperation Fund and other regional private institutional investors.

AIDEC is aimed at financing infrastructure projects through loans and equity and equity-linked investments.

AIDEC hopes to raise a total equity of 100 billion yen ($970 million), from public and private investors, the ADB said.

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