Summary of Proposed Investment
Project Number
8027
Company Name
Bank of Beirut S.A.L.
Date SPI Disclosed
Mar 10, 1997
Country
Lebanon
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - General
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : May 19, 1997
Signed : Aug 18, 1997
Invested : Jan 22, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | LEBANON-Credit Line to Medium Sized Banks |
| Region | Central Asia, Middle East and North Africa |
| Sector |
Projected Board DateApril 17, 1997
Company NameBanque Saradar S.A.L., Transorient Bank S.A.L., Banque Beyrouth pour le Commerce S.A.L., and Bank of Beirut S.A.L.
Technical Partner and/or Major Shareholders
None
Project Cost Including proposed IFC investment
US$ 75 million
Location of project and Description of site
Lebanon
Description of Company and Purpose of Project
The project consists of long-term credit lines aggregating up to US$75 million (including up to US$30 million to be syndicated) to four Lebanese private sector commercial banks, for onlending to local small and medium-sized enterprises (SMSEs) in the private sector and to middle income families to finance the purchase of their first residence or the expansion of their existing one. The project is central to IFC’s strategy of supporting SMSE’s, and also providing critical housing finance for middle income families. The project will also allow the Borrowing Banks (BB’s) to expand their operations while maintaining a matched assets and liability structure.
Environmental Category and Issues
This is a Category FI project according to IFC’s environmental procedure. Each BB will be required to undertake an environmental review of each subproject. In addition, IFC will assess each BB’s capability to carry out environmental reviews.
| Date SPI sent to PIC | March 10, 1997 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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