PROJECT

Projects

Summary of Proposed Investment

Project Number

21223

Company Name

Romanian-American Enterprise Fund

Date SPI Disclosed

Oct 21, 2003

Country

Romania

Industry

Financial Markets

Projected Board Date

Dec 20, 2003

Status

Completed

Sector

Commercial Banking - Microfinance and Small Business

Department

Regional Industry FIG LAC & EUR

Environmental Category

FI-1 - Significant

Previous Events

Approved : May 26, 2004
Signed : Jun 8, 2004
Invested : Jul 23, 2004

Project Description

The project involves a $3 million credit line to Romanian-American Enterprise Fund (RAEF) for on-lending to three non-governmental organization-led micro loan programs. These sub-borrowers are Credit, Assistance and Business training (CAPA), Cooperative Housing Foundation (CHF) and Opportunity Microcredit Romania, S.A. (OMRO). RAEF works with these three partners because each serves a different part of Romania, thereby allowing the benefits of micro credit to be spread to the widest number of micro-enterprise recipients.

Sponsor / Cost / Location

Development Impact