Summary of Proposed Investment
Project Number
4764
Company Name
Demir Kyrgyz International Bank CJSC
Date SPI Disclosed
Feb 16, 1996
Country
Kyrgyz Republic
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - General
Department
Global Industry, Financial Markets
Environmental Category
C - No Impact
Previous Events
Approved : Apr 30, 1996
Signed : Nov 7, 1996
Invested : Aug 7, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | Kyrgyz Republic-Joint Venture Bank |
| Equity Investment |
| Region | Central Asia, Middle East & North Africa |
Sector
Project No004764
Projected Board DateApril 1, 1996
Company NameDemirbank Kyrgyzstan
Technical Partner and/or Major Shareholders
Technical Partner - Demirbank - 60%; International Finance Corporation (IFC) - 15%, European Bank for Reconstruction (EBRD) and Development - 15% and FMO - 10%.
Project Cost Including proposed IFC investment
The Bank will be capitalized at US$2.0 million, of which IFC will invest approximately US$300,000. IFC, FMO and EBRD will each make a loan of US$2.0 million to the Bank. FMO will participate under IFC’s ‘B’ loan program.
Location of project and Description of site
Bishkek, Kyrgyz Republic
Description of Company and Purpose of Project
The project will consist of the establishment of the first major international joint-venture bank in the Kyrgyz Republic. The new institution is expected to provide essential banking services to private Kyrgyz enterprises and joint ventures.
Environmental Category and Issues
This is a category “C” project. No further environmental review is required.
| Date SPI sent to PIC | February 16, 1996 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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