Summary of Proposed Investment
Project Number
7524
Company Name
BANCO INTERNACIONAL DE MOCAMBIQUE, S.A.
Date SPI Disclosed
May 13, 1996
Country
Mozambique
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - General
Department
Global Industry, Financial Markets
Environmental Category
C - No Impact
Previous Events
Approved : Jun 27, 1996
Signed : Jul 21, 1997
Invested : Oct 1, 1997
Project Description
Summary Of Project Information (SPI)
| Project Name | Mozambique-Banco Internacional de Moçambique (BIM) |
| Commercial Bank |
| Region | Sub-Saharan Africa |
Sector
Project No007524
Projected Board DateJune 13, 1996
Company NameBanco Internacional de Moçambique (BIM)
Technical Partner and/or Major Shareholders
The technical partner is Banco Commercial Portugues (BCP), which also owns 50% of BIM. BCP is a very successful bank and is now Portugal’s largest private financial service group with a 20% share of the Portuguese banking market.
Project Cost Including proposed IFC investment
The total project cost for the project is between US$30 million and US$35 million, including a 20% IFC participation in the capital of BIM for up to US$5 million as well as the extention of a loan between US$5 million and US$10 million.
Location of project and Description of site
Maputo, Mozambique
Description of Company and Purpose of Project
The project consists of IFC taking an equity participation of up to 20% for a total consideration of about US$5 million equivalent in the capital of BIM, a recently established commercial bank in Mozambique, as well as the extension of a term loan between US$5 million and US$10 million to strengthen BIM’s foreign currency treasury operations.
Environmental Category and Issues
This is a category C project according to IFC’s environmental review procedure. No further environmental review is required.
| Date SPI sent to PIC | May 13, 1996 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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