Summary of Proposed Investment
Project Number
7172
Company Name
Intra-Regional Trade Enhancement Facility (IRTEF) - Dalrybbank
Date SPI Disclosed
Jan 17, 1995
Country
World Region
Industry
Financial Markets
Status
Completed
Sector
Trade Finance
Department
Global Industry, Financial Markets
Environmental Category
C - No Impact
Previous Events
Approved : Mar 29, 1996
Signed : May 7, 1996
Invested : Jan 27, 1999
Project Description
Summary Of Project Information (SPI)
| Project Name | Intra-Regional Trade Enhancement Facility |
| Region | Central and Eastern Europe / CIS |
Sector
Project No007172
Projected Board DateFebruary 17, 1996
Company NameN/A
Technical Partner and/or Major Shareholders
Raiffeisen Zentralbank Österreich A.G.
Project Cost Including proposed IFC investment
US$40 million, including an IFC guarantee of up to US$20 million
Location of project and Description of site
Central and Eastern Europe and the European part of the CIS
Description of Company and Purpose of Project
The project involves the establishment of a US$40 million five year revolving trade enhancement facility for guaranteeing the credit risk of selected banks within Central and Eastern Europe and the European part of the CIS (the Region) engaged in trade finance. The co-guarantor of the facility will be Raiffeisen Zentralbank Österreich A.G. (RZB), a leading Austrian commercial bank. RZB and IFC will each assume 50% of the risk exposure under the facility. The facility will offer private exporters and importers in the Region the ability to cover credit risks deriving from commercial transactions through letters of credit or guarantees issued by selected banks in the Region and co-guaranteed by RZB and IFC, thereby facilitating trade within the Region.
Environmental Category and Issues
This is a category C project according to IFC''s environmental review procedure. No further environmental review is therefore required.
Date SPI sent to PIC January 17, 1996
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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