Summary of Proposed Investment
Project Number
7908
Company Name
Finance Bank Zambia Limited
Date SPI Disclosed
Nov 18, 1996
Country
Zambia
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - General
Department
Regional Industry - FIG Africa
Environmental Category
FI
Previous Events
Approved : Feb 4, 1997
Signed : May 28, 1997
Invested : Jun 25, 1997
Project Description
Summary Of Project Information (SPI)
| Project Name | Zambia - Finance Bank Zambia (FBZ) Limited |
RegionSub-Saharan Africa
Sector
Project No007908
Projected Board DateDecember 31, 1996
Company NameFinance Bank Zambia (FBZ) Limited
Technical Partner and/or Major Shareholders
Finance Bank Zambia (FBZ) Limited
Project Cost Including proposed IFC investment
up to US$5 million
Location of project and Description of site
Throughout Zambia
Description of Company and Purpose of Project
The project involves an IFC loan of up to US$5 million to Finance Bank Zambia Limited to be used for trade and project finance purposes. Finance Bank Zambia is the largest locally owned private bank in Zambia with an asset and equity base of about US$60 million and US$5 million equivalent. The IFC loan would serve to channel much forex term finance to fund the operational and expansion needs of Zambian enterprises.
Environmental Category and Issues
This is a category FI project according to IFC’s environmental procedures. For relevant project finance operations, FBZ will be required to do an environmental review of eligible investee companies operations.
| Date SPI sent to PIC | November 18, 1996 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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