Administration of Equity Investment in Packworks Ventures Pte. Ltd.

The transaction involves the administration by the Asian Development Bank (ADB) of an equity investment of up to $3,000,000with an initial investment of up to $700,000in Packworks Ventures Pte. Ltd. (Packworks), a company headquartered in Singapore that has a fully owned subsidiary operating in the Philippines called ThePack Solutions Inc. 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 Packworks is expected to undertake. Consistent with the established fund documents, ADB will not invest its own capital alongside the fund.