Summary of Proposed Investment
Project Number
7287
Company Name
Kazkommertsbank
Date SPI Disclosed
Aug 28, 1996
Country
Kazakhstan
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - General
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : Feb 26, 1997
Signed : Jun 23, 1997
Invested : Dec 3, 1997
Project Description
Summary Of Project Information (SPI)
| Project Name | Republic of Kazakstan-Credit Line to Kazkommertsbank |
| Region | Central Asia |
| Sector |
Projected Board DateDecember 1, 1996
Company NameKazkommertsbank
Technical Partner and/or Major Shareholders
Kazkommertsbank is fully-owned by private Kazak investors.
Project Cost Including proposed IFC investment
IFC will extend a five-year floating-rate loan of up to US$10 million. In addition, up to 20% of the outstanding principal amount of IFC’s A loan would be convertible into equity.
Location of project and Description of site
Almaty, Kazakstan
Description of Company and Purpose of Project
The project will provide a long-term loan facility of approximately US$10 million to Kazkommertsbank, one of the leading private banks. The credit line facility will broaden Kazkommertsbank’s funding base and will be used for project finance, trade finance and the provision of working capital, including loans to small and medium-scale enterprises, thereby contributing to the development of the private sector in Kazakstan.
Environmental Category and Issues
Environmental Category “FI” - Kazkommertsbank will be required to undertake an environmental risk management system for the credit line. In addition, IFC will assess Kazkommertsbank’s capability to implement the system.
| Date SPI sent to PIC | August 28, 1996 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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