Summary of Proposed Investment
Project Number
4779
Company Name
LEBANESE LEASING COMPANY SAL
Date SPI Disclosed
May 10, 1995
Country
Lebanon
Industry
Financial Markets
Status
Completed
Sector
Leasing Services
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : Jun 16, 1995
Signed : Jun 22, 1995
Invested : Nov 10, 1995
Project Description
SUMMARY OF PROJECT INFORMATION (SPI)
Country/Project Name Lebanese Republic-Lebanese Leasing Company SAL
Region Central Asia, Middle East and North Africa
Sector Finance
Project No. 004779
Projected Board Date May 25, 1995
Company Name Lebanese Leasing Company
Technical Partner and/or Major Shareholders
Technical Partner - Ucabail (25%), the holding company of Crédit Agricole''s (France) leasing activities
Local Sponsor - Fransabank SAL (45%)
Project Cost including proposed IFC investment
US$27.5 million of which IFC''s equity investment is about US$750,000 equivalent and loan is US$7.5 million
Location of project and Description of site
Beirut, Lebanese Republic
Description of Company and Purpose of Project
The project involves the establishment of the first leasing company in Lebanon, addressing a fundamental need for medium to long-term financing through the provision of lease finance mainly to the productive sectors of the economy. The project is being sponsored by Fransabank SAL (Fransabank), a leading Lebanese bank, in collaboration with UCABAIL, the leasing arm of Crédit Agricole of France. The shareholding structure is expected to be as follows: Fransabank 45%, Ucabail 25%, IFC 15%, and a group of investors 15%. With an estimated initial equity capitalization of US$5 million equivalent, IFC''s equity investment would be US$750,000 equivalent. An important economic benefit of the project is its impact on employment: an estimated 4,000 jobs would be created by the leasing company.
Environmental Categories and Issues
This is a Financial Intermediary (FI) category project. For relevant operations, LLC will be required to implement an environmental risk management system to ensure that the operations of lessee companies comply with Government of Lebanon environmental, health and safety requirements as well as World Bank policies.
Date SPI sent to PIC May 10, 1995
For additional Information contact: Corporate Relations Unit - telephone (202) 473-7711 - facsimile: (202) 676-0365.
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Country/Project Name Lebanese Republic-Lebanese Leasing Company SAL
Region Central Asia, Middle East and North Africa
Sector Finance
Project No. 004779
Projected Board Date May 25, 1995
Company Name Lebanese Leasing Company
Technical Partner and/or Major Shareholders
Technical Partner - Ucabail (25%), the holding company of Crédit Agricole''s (France) leasing activities
Local Sponsor - Fransabank SAL (45%)
Project Cost including proposed IFC investment
US$27.5 million of which IFC''s equity investment is about US$750,000 equivalent and loan is US$7.5 million
Location of project and Description of site
Beirut, Lebanese Republic
Description of Company and Purpose of Project
The project involves the establishment of the first leasing company in Lebanon, addressing a fundamental need for medium to long-term financing through the provision of lease finance mainly to the productive sectors of the economy. The project is being sponsored by Fransabank SAL (Fransabank), a leading Lebanese bank, in collaboration with UCABAIL, the leasing arm of Crédit Agricole of France. The shareholding structure is expected to be as follows: Fransabank 45%, Ucabail 25%, IFC 15%, and a group of investors 15%. With an estimated initial equity capitalization of US$5 million equivalent, IFC''s equity investment would be US$750,000 equivalent. An important economic benefit of the project is its impact on employment: an estimated 4,000 jobs would be created by the leasing company.
Environmental Categories and Issues
This is a Financial Intermediary (FI) category project. For relevant operations, LLC will be required to implement an environmental risk management system to ensure that the operations of lessee companies comply with Government of Lebanon environmental, health and safety requirements as well as World Bank policies.
Date SPI sent to PIC May 10, 1995
For additional Information contact: Corporate Relations Unit - telephone (202) 473-7711 - facsimile: (202) 676-0365.
...\lebleas\leasspi.not
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