Summary of Proposed Investment
Project Number
7562
Company Name
Aktsiaselts Eesti Uhispank.
Date SPI Disclosed
Sep 21, 1996
Country
Estonia
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - General
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : Nov 25, 1996
Signed : Jan 23, 1997
Invested : Apr 24, 1997
Project Description
Summary Of Project Information (SPI)
| Project Name | Estonia-Eesti Ühispank |
| Region | Europe |
| Sector | Financial Services |
Project No007562
Projected Board DateOctober 31, 1996
Company NameEesti Ühispank
Technical Partner and/or Major Shareholders
Eesti Ühispank is the second largest commercial bank in Estonia. Its main shareholders include seven Estonian investment companies which were among the Bank’s original founders (17%), Swedfund (11%), the Republic of Estonia (7%), Ernesto Preatoni, an Italian financier, (10%), and FIN VIP Tourism Ltd. Clients, a group of Italian investors, (6%). The remaining shareholders are predominantly Estonian individuals and companies. The Bank’s shares are traded on the Helsinki and Tallinn Stock Exchanges.
Project Cost Including proposed IFC investment
DM 10 million
Location of project and Description of site
Estonia
Description of Company and Purpose of Project
The credit line is to be used for onlending to private small and medium-sized Estonian companies. Proceeds of the credit line will be used for equipment acquisition and working capital to meet the restructuring and investment needs of the subborrowers.
Environmental Category and Issues
This is a Financial Intermediary (FI) category project according to IFC’s environmental review procedure. For relevant operations, Eesti Ühispank will be required to implement an environmental management system consistent with host country requirements and World Bank policies and guidelines.
| Date SPI sent to PIC | September 21, 1996 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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