Summary of Proposed Investment
Project Number
5049
Company Name
COMMERCIAL BANK OF AFRICA (TANZANIA)
Date SPI Disclosed
Jun 19, 1995
Country
Tanzania
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - General
Department
Regional Industry - FIG Africa
Environmental Category
C - No Impact
Previous Events
Approved : Oct 31, 1995
Project Description
SUMMARY OF PROJECT INFORMATION (SPI)
Project Name Tanzania-Eurafrican Bank (Tanzania) Limited
Region Sub-Saharan Africa
Sector Finance
Project No 005049
Projected Board Date July 31, 1995
Company Name Eurafrican Bank (Tanzania) Limited (EAB)
Technical Partner and/or Major Shareholders
EAB has been promoted by Banque Belgolaise, the African arm of Generale Bank (GBank), the largest Belgian bank with extensive interests both in Europe and overseas. EAB''s major shareholders are: Banque Belgolaise (25%); IFC (20%); Proparco (10%); other local shareholders (45%).
Project Cost including proposed IFC investment
The total project cost is US$8.0 million, comprising of an "A" loan of US$3.0 million and a "B" loan of US$5 million.
Location of project and Description of site
Tanzania
Description of Company and Purpose of Project
EAB is a wholesale bank focussing on trade finance and other commercial banking activities.
The project will provide EAB with a range of foreign currency funding products, enabling it to provide working capital financing to exporters as well as trade finance services to importers.
Environmental Categories and Issues
This is a category "C" project under IFC''s environmental review procedure.
Date SPI sent to PIC June 19, 1995
For additional information contact: Corporate Relations Unit.
Telephone: (202) 473-7711
Facsimile: (202) 676-0365
Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Related ESRS/ERS
