To ask the Secretary of State for International Development, what the total invested by the Commonwealth Development Corporation in (a) Shan Orchard, (b) Frontiir Co. Ltd, (c) Solar Home Pte Ltd, (d) MC Easy Microfinance Co. Ltd, (e) Alliance for Microfinance in Myanmar Ltd, (f) Advans Myanmar and (g) Irrawaddy Green Tower Project in Myanmar was in each of the last five years.
2 June 2020
As stated in Written Question 46671, CDC has invested a total of $78,795,576 into the above companies over the last five years (2015-19). A $50,000,000 direct debt investment was made in Irrawaddy Green Tower Project in 2016. A $20,000,000 direct equity investment was made in Frontiir Co. Ltd in 2019. The remainder has been invested through 4 investment funds. These are Anthem Asia Myanmar SME Venture Fund, Insitor Impact Asia Fund Private Ltd, Myanmar Opportunities Fund II and Advans S.A. These funds have made six investments over the last five years in Shan Orchard, Solar Home Pte Ltd, MC Easy Microfinance Co. Ltd, Alliance for Microfinance in Myanmar Ltd, Advans Myanmar and Frontiir Co Ltd.
CDC discloses on its website the amount it invests into companies, projects and investment funds. The amount invested by those funds into underlying investments is not disclosed as this information is commercially sensitive