The Asian Development Bank (ADB) has signed agreements for a $10 million equity investment in Navegar II L.P. (Navegar II), a private equity fund that invests primarily in Philippine companies. The investment will help to provide much-needed capital for middle-market companies in the Philippines, helping them to adjust to dramatic changes in the market landscape caused by the coronavirus disease (COVID-19) pandemic.

Navegar II collaborates with business owners and management teams to create long-term development impacts and shareholder value. The $200 million fund will invest primarily in healthcare, education, business services, logistics, and consumer goods and services