Summary of Proposed Investment
Project Number
7785
Company Name
ProCredit Bank d.d. Sarajevo
Date SPI Disclosed
Sep 25, 1996
Country
Bosnia and Herzegovina
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - Microfinance and Small Business
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : Jan 30, 1997
Signed : Sep 30, 1997
Invested : Oct 16, 1997
Project Description
Summary Of Project Information (SPI)
| Project Name | Bosnia-Herzegovina - Bosnia Microcredit Bank |
| Region | Europe |
| Sector | Financial Services |
Project No7785
Projected Board DateNovember 5, 1996
Company NameBosnia Microcredit Bank
Technical Partner and/or Major Shareholders
International Project Consult (Germany - 20%); Market Banka or BH Banka (both of Bosnia - 20%); EBRD (20%); European Union (20%); and IFC (20%).
Project Cost Including proposed IFC investment
US$10.6 million, including an IFC equity investment of up to US$700,000 and may also provide credit support of up to US$5 million.
Location of project and Description of site
Bosnia-Herzegovina: Sarajevo.
Description of Company and Purpose of Project
The Bosnia Microcredit Bank would introduce microlending techniques to the country. A specialized financial institution would be created with capital investment and support from an experienced foreign technical partner and a reliable and reputable local financial institution. The developmental impact of microcredit programs on the poorest segments of society is well documented. The same income generation and employment creation benefits are expected in Bosnia. The commercial orientation of the shareholders of the Bosnia Microcredit Bank is expected to help generate, over a short period of time, a level of pofitability and self-sustainability which would further enhance this bank’s developmental impact.
Environmental Category and Issues
This is an environmental review category FI project. The Company will be required to undertake an environmental review of each sub-project. In addition, IFC will assess the Company’s capability to carry out environmental reviews.
| Date SPI sent to PIC | September 25, 1996 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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