Summary of Proposed Investment
Project Number
8002
Company Name
PIIF Phase II
Date SPI Disclosed
Dec 24, 1996
Country
East Asia and Pacific Region
Industry
other
Status
Completed
Sector
Fund Management Company
Department
East Asia
Environmental Category
FI
Previous Events
Approved : May 29, 1997
Project Description
REVISED Summary Of Project Information (SPI)
| Project Name | Pacific Islands Investment Facility (PIIF) Phase II |
| Formerly the Quasi-Equity Investment Facility (QEIF) |
| Region | Pacific Islands |
Sector
Project No008002
Projected Board DateAugust 1, 1997
Company Name N/A
Technical Partner and/or Major Shareholders
The Asia Department (primarily CASD2) will continue to manage the PIIF through this interim period and, along with CASDR, take the lead in planning a more permanent arrangement, such as an independent fund.
Project Cost Including proposed IFC investment
The project involves a $6.0 million, 3 year, Phase II Pacific Islands Investment Facility (PIIF), formerly known as the “ Quasi-Equity Investment Facility (QEIF) ”.
Location of project and Description of site
This Facility will invest in projects located in the nine Pacific island member countries of IFC.
Description of Company and Purpose of Project
The PIIF operates in small, remote, island countries where IFC has found great difficulty in generating regular deal-flow that can be efficiently processed through standard Washington procedures. Excluding the PIIF, IFC has made investments in only three countries in the region.
Environmental Category and Issues
This is an environmental review category (FI) project. PIIF will be required to undertake an environmental review of each sub-project. IFC will review and clear all PIIF projects.
| Date SPI sent to PIC: Revised: | December 24, 1996 April 29, 1997 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
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