Summary of Proposed Investment
Project Number
8384
Company Name
Banco de Africa Ocidental, S.A.R.L.
Date SPI Disclosed
Oct 29, 1997
Country
Guinea-Bissau
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - General
Department
Regional Industry - FIG Africa
Environmental Category
C - No Impact
Previous Events
Approved : Apr 9, 1998
Signed : Mar 23, 2000
Invested : May 16, 2000
Project Description
Summary Of Project Information (SPI)
| Project Name | Guinea-Bissau-Banco da Africa Occidental |
| Region | Sub-Saharan Africa |
Sector
Project No008384
Projected Board DateNovember 30, 1997
Company NameBanco da Africa Occidental
Technical Partner and/or Major Shareholders
Technical Partners: Banco EFISA and Montepio Geral both Portuguese banks
Project Cost Including proposed IFC investment
Up to US$2.0 million, including an IFC equity investment of US$300,000.
Location of project and Description of site
HQ Bissau and operating throughout Guinea-Bissau.
Description of Company and Purpose of Project
The project involves a 15% IFC equity investment in BAO, a new commercial bank in Guinea-Bissau with a capital of CFAF1.0 billion (US$2.0 million equivalent). BAO will be the first private bank in Guinea-Bissau providing a full range of banking services.
Environmental Category and Issues
This is an environmental review category C project.
| Date SPI sent to PIC | October 29, 1997 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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