Summary of Proposed Investment
Project Number
7830
Company Name
ECOBANK BURKINA FASO
Date SPI Disclosed
Nov 18, 1996
Country
Burkina Faso
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - General
Department
Global Industry, Financial Markets
Environmental Category
C - No Impact
Previous Events
Approved : Apr 22, 1997
Signed : Sep 30, 1997
Invested : Oct 29, 1997
Project Description
Summary Of Project Information (SPI)
| Project Name | Burkina Faso-Ecobank |
RegionSub-Saharan Africa
Sector
Project No007830
Projected Board DateDecember 31, 1996
Company NameEcobank-Burkina Faso
Technical Partner and/or Major Shareholders
Ecobank Transnational Incorporated (ETI), a home-based financial institution (80%), IFC (10%), local investors (10%)
Project Cost Including proposed IFC investment
Up to US$2.5 million, including an IFC investment of up to $250,000
Location of project and Description of site
HQ Ouagadougou and operating throughout Burkina Faso
Description of Company and Purpose of Project
The Project involves an IFC equity participation of up to 10% in EBF, a new commercial bank being established in Burkina Faso. Under the sponsorship of ETI, a leading regional financial institution, EBF plans to provide high quality financial products and services to the productive sectors of the Burkinabe economy.
Environmental Category and Issues
This is an environmental review category C project. No further review is required.
| Date SPI sent to PIC | November 15, 1996 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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