Summary of Proposed Investment
Project Number
7290
Company Name
Orix Leasing Egypt S.A.E.
Date SPI Disclosed
Mar 4, 1996
Country
Egypt, Arab Republic of
Industry
Financial Markets
Status
Completed
Sector
Leasing Services
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : May 17, 1996
Signed : Sep 24, 1996
Invested : May 15, 1997
Project Description
Summary Of Project Information (SPI)
| Project Name | Egypt - ORIX Leasing |
| Region | Middle East |
Sector
Project No007290
Projected Board DateMarch 31, 1996
Company NameORIX Leasing Egypt
Technical Partner and/or Major Shareholders
Technical Partner: ORIX Corporation of Japan ORIX Leasing Pakistan Major Shareholder: National Bank of Egypt
Project Cost Including proposed IFC investment
Total project cost US$20.9 million IFC Investment: equity - US$0.88 million loan - US$5.00 million
Location of project and Description of site
Cairo, Egypt
Description of Company and Purpose of Project
ORIX Leasing Egypt (OLE) will be the first leasing company in Egypt and will offer medium term lease finance facilities to industrial and other productive sectors of the economy. The establishment of OLE would contribute to improving Egypt’s credit delivery system. It would address the scarcity of term financing for medium-sized companies by introducing a flexible financing instrument allowing enterprises to benefit from near 100% financing and a scheduled of lease payments tailored to anticipated cash flows.
Environmental Category and Issues
This is a Financial Intermediary (FI) category project according to IFC’s environmental review procedure. For relevant operations, OLE will be required to implement an environmental risk management system consistent with host country requirements and applicable World Bank policies and guidelines. OLE has committed to attending an environmental risk management workshop to be conducted or sponsored by IFC, and to providing an environmental risk management plan satisfactory to IFC. In addition, OLE will submit to IFC an annual environmental report.
| Date SPI sent to PIC | March 4, 1996 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711 facsimile: (202) 676-0365
Sponsor / Cost / Location
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