CLSA Asia-Pacific Markets (“CLSA”) is one of the leading independent brokerages in Asia. CLSA is also the Asia-Pacific brokerage arm of the Credit Agricole Group, the world’s ninth largest bank by tier one capital. CLSA-CP is the wholly owned asset management business of CLSA. The Sponsor manages over $2.6 billion in a group of diversified, theme-focused funds established to take advantage of investment opportunities in the Asia-Pacific region.

IFC proposes an equity investment of the lesser of $25 million or 20% of the total commitments upon final close of the Fund.

25.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	25.0

* These investment figures are indicative

The Fund has a pan-Asian investment focus. However, while there are no geographic allocations for the Fund, based on the current range of opportunities, it is projected that a majority of the investments (>50%) will be in China and India and close to a third will be in other developing countries (e.g. Indonesia, the Philippines and Thailand). Investments in developed countries in Asia-Pacific (e.g. Japan, S.Korea etc) will form the smallest portion (<20%).

The impact of providing equity financing to companies in the business of technology transfer in the clean technology space is significant. It includes but is not limited to the following: (i) Improvement in clean energy technology in Asia, leading to reduced GHG emissions (ii) Adoption of more sustainable practices (iii) Dissemination of low cost technologies to developing markets (iv) Creation of employment in urban and rural areas

The proposed IFC investment is expected to have a catalytic effect on the Fund, enabling the Fund, through the proposed IFC investment and mobilizations from other investors, to achieve its target fund size. The proposed IFC investment would also seek to encourage the Fund to pursue a more developing country focused mandate.

This project has been classified as a Category FI project according to IFC''s Environmental and Social Review Procedure. Sub-projects financed by the Fund will need to comply with IFC FI Exclusion List, the applicable host country E&S laws and regulations, and the IFC Performance Standards (the Applicable Performance Requirements). IFC has (1) assessed the potential E&S risks associated with the Fund''s expected portfolio and sectors of investment; (2) reviewed the fund manager''s capacity and track record to manage such E&S risks and (3), run a gap analysis of the client’s existing social and environmental management system (SEMS) and is in dialogue with the Fund on the actions required to broaden the scope and formalize its E&S risk assessment processes.

These corrective actions must be addressed to IFC’s satisfaction prior to IFC commitment. In addition, IFC will be provided with information in relation to the implementation and performance of the Fund''s SEMS for the first three investment proposals to monitor the effective implementation and consistency of approach. The manager of the Fund will undertake E&S impact assessments with respect to each of its proposed investments. For all investment proposals determined by the manager to be high risk from an E&S impact standpoint, IFC will have prior review rights of the E&S impact analysis carried out and will be entitled to provide recommendations to the manager to mitigate the risks which the manager will then be able to take into consideration when assessing the investment opportunity.