AIG Silk Road Fund

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The project is an investment fund managed by American International Group Inc. The project will provide equity finance to small and medium-sized private sector enterprises and joint ventures operating in the countries of Central Asia. The project will contribute to the development of the private sector and economic growth of Central Asian countries by mobilising private sector funds and encouraging Western strategic investors to invest in viable projects and bring technical expertise to the region. AIG Silk Road Fund, a private equity investment fund targeting Kazakstan, Uzbekistan, Azerbaijan, Kyrgyzstan, Tajikistan and Turkmenistan ("Central Asia"). Investment in shares of the fund up to US$ 15 million (ECU 12 million). The fund target size is US$ 100 million (ECU 80 million). The operation has been classified as C/0 (the project does not require an environmental analysis or an environmental audit). The fund will follow the ERBD's "Environmental Procedures for Investment Funds". In implementing these procedures, the fund will assess potential environmental issues associated with its investments. These must comply with local/national health, safety, environmental and public consultation requirements. The fund will submit annual environmental reports to the EBRD. None.