Summary of Proposed Investment
Project Number
7506
Company Name
Bank of Marshall Islands
Date SPI Disclosed
Mar 12, 1996
Country
Marshall Islands
Industry
other
Status
Completed
Sector
Finance & Insurance
Department
Regional Industry - FIG Asia & Pac
Environmental Category
C - No Impact
Previous Events
Approved : Feb 23, 1995
Project Description
Summary Of Project Information (SPI)
| Project Name | Marshall Islands - Bank of Marshall Islands |
| Region | Asia - Pacific |
| Sector |
Projected Board DateDecember 31, 1996
Company NameBank of Marshall Islands
Technical Partner and/or Major Shareholders
Bank of Marshall Islands (BOMI), which is based in Majuro in the Republic of the Marshall Islands. Technical assistance and training will be given to help expand its business into new market areas and strengthen its capacity to better cope with an expected economic contraction.
Project Cost Including proposed IFC investment
Total project cost is estimated at US$500,000, which is a IFC venture loan (through PIIF, the Pacific Islands Investment Fund).
Location of project and Description of site
The project will be located in the Island of Majuro of the Republic of the Marshall Islands.
Description of Company and Purpose of Project (include IFC role\development impact)
This project is a five year loan and technical assistance package. The loan of US$500,000 will be made to the Bank of Marshall Islands (BOMI) by IFC’s Pacific Islands Investments Fund (PIIF). This would be IFC’s investment in the Republic of the Marshall Islands (RMI). The proposed five-year loan, along with a technical assistance package, would help BOMI expand into new larkets, and strengthen its capacity to cope with the expected contraction in Government-related activities in the economy of RMI.
Environmental Category and Issues
This project is a category C according to IFC’s environmental review procedure and will not have any environmental impact.
| Date SPI sent to PIC: Revised: | March 12, 1996 March 15, 1996 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
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