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ADB to invest $15m in Philippines-focused grocery chain DALI

Bank hopes move will increase food security and create jobs

Operations at DALI outlets are based on German supermarkets that avoid elaborate interiors and massive advertising costs. (Screenshot from DALI Stores website)

JAKARTA -- The Manila-based Asian Development Bank (ADB) has approved an investment of up to $15 million to expand the reach of discount retail chain DALI Stores in the Philippines with the aim of increasing access to groceries for low-income people and creating more jobs.

The bank will subscribe to common equity shares in HDPM Sin along with Malaysia-based Creador and Philippines-based Navegar -- both private equity companies -- in DALI's Series C round, according to a statement.

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