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.
