Summary of Proposed Investment
Project Number
24577
Company Name
BANSEFI AFORE
Date SPI Disclosed
Nov 29, 2005
Country
Mexico
Industry
Financial Markets
Projected Board Date
Jan 9, 2006
Status
Pending Signing
Sector
Development Finance Company
Department
Regional Industry FIG LAC & EUR
Environmental Category
C - No Impact
Previous Events
Approved : Jan 23, 2006
Project Description
The proposed project is to invest in a start-up pension administration company (AFORE) being set-up by Banco del Ahorro Nacional y Servicios Financieros (BANSEFI), a development finance institution in Mexico and the Mexican Savings and Loan Sector. The AFORE’s initial capitalization is estimated at up to MXN160 million ($15 million equivalent). IFC’s participation is expected to be up to 18% of total equity, or up to $3 million equivalent approximately. Other international and domestic investors have also been invited to participate in the equity.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Pedro Guazo, Director of Finance
BANSEFI
Phone: +52 (55) 5481-3357
BANSEFI
Phone: +52 (55) 5481-3357