The major shareholders of the ORIX NBFI’s in the MENA region are: ORIX Corporation, Japan: ORIX Corporation is an integrated financial services group based in Tokyo, Japan, providing innovative value-added products and services to both corporate and retail customers. It is listed on Tokyo and New York Stock Exchanges. With operations in 24 countries and regions worldwide, ORIX’s activities include corporate financial services, such as leases and loans, as well as automobile operations, rental operations, real estate-related finance, real estate, life insurance and investment banking. By pursuing new profit earning opportunities through specialized leasing capabilities and broadening operational scope, ORIX has achieved sustained growth in earnings over the years. The Group reported per-tax profit of US$ 1.4 billion for the year ended March 31, 2005 and its asset base exceeded US$ 56.5 billion on that date. ORIX Leasing Pakistan (OLP): OLP is the largest leasing operation in Pakistan. OLP has also been the regional hub for expansion of ORIX Corporation in MENA and Central Asia. With PRs19 billion (US$ 317 million) in total assets, OLP is the largest and most diversified leasing company in Pakistan with assets spread over broad spectrum of industries, products, sizes and a diversified portfolio of over 3000 clients. The Company has also been consistently reporting strong profitability. For the quarter ended on 9/30/05, the company posted net profit of Prs.70 million (US$ 1.2 million), 11% higher than the net profit of PRs.63 million (US$ 1.0 million) earned in the corresponding period of 2004. ORIX Corporation, Japan holds 49.9% of OLP, whereas OLP and ORIX Corporation together have the following holdings in each of the proposed Company: ORIX Investment Bank Pakistan Limited 45.07% ORIX Leasing Egypt 46.00% Oman ORIX Leasing 20.25% Saudi ORIX Leasing Company 30.00%

IFC plans to provide US$50 million to five ORIX Group NBFIs operating in the MENA region to support expansion of their SME portfolios.

50.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	50.0
Equity

* These investment figures are indicative

Project is located in Karachi, Muscat, Riyadh, and Cairo.

Development Impact A key element of IFC’s development strategy for the financial sector in the MENA Region has been to establish in selected countries, efficient and viable specialized financial institutions to provide leasing and other forms of financing to the SME sector not otherwise available in these markets. These IFC portfolio companies have over the past years developed a good customer base and are considered leading providers of lease financing to SMEs in their home markets which are still underserved by the local banking sectors. This financing package is designed to help achieve and further strengthen developmental impact envisaged for this strategy by enabling these companies to expand their financing activities and reach a broader segment of customers in their home markets. It will enable these IFC portfolio companies help meet the growing financing needs of the SME sector in the domestic markets generated by increased investment activity in the context of higher rates of economic growth and more focus on domestic investment in the non-oil sector in several of these markets. IFC Role While leasing companies established by IFC in collaboration with ORIX Corporation and ORIX Leasing Pakistan have been successful in generating good business volume and high quality portfolios, the domestic financial markets have not developed sufficiently to provide adequate term funding to these companies. Through this project IFC will help bridge this gap in the demand and availability of term funding faced by these companies as they grow their business. IFC will be demonstrating its continued support to its long term strategic partner ORIX Corporation Japan who entered the nascent markets of the MENA region at the encouragement of IFC. ORIX and IFC continue to evaluate similar initiatives in other frontier markets of Central Asia and the MENA region.

This is an FI Type 1 project. The borrower will be required to develop an environmental management system. The borrowers must require that investments under relevant operations meet host country environmental, health and safety requirements. IFC will assess the borrower''s capacity for environmental review and will provide training as necessary.
Location of environmental documents in locally affected community