ADB to invest $15m in Philippines-focused discount retail chain DALI Stores

ADB to invest $15m in Philippines-focused discount retail chain DALI Stores

Photo: DALI

Manila-headquartered Asian Development Bank (ADB) has approved an investment of up to $15 million to expand discount grocery store chain DALI Stores in the Philippines as part of efforts to increase access to groceries for low-income people and create more jobs.

The multilateral lender will subscribe to common equity shares in HDPM Sin Pte Ltd alongside Malaysia-headquartered private equity firm Creador and Philippines-based private equity firm Navegar in the company’s Series C investment round, according to a statement.

Edited by: Joymitra Rai

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