Summary of Proposed Investment
Project Number
8472
Company Name
Demirbank Romania
Date SPI Disclosed
Sep 22, 1997
Country
Romania
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - General
Department
Regional Industry FIG LAC & EUR
Environmental Category
FI
Previous Events
Approved : Nov 21, 1997
Signed : Nov 24, 1997
Invested : Dec 28, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | Romania-Demirbank Romania |
| Region | Europe |
| Sector |
Projected Board DateOctober 24, 1997
Company NameDemirbank Romania
Technical Partner and/or Major Shareholders
Demirbank Turkey (Turkey)
Project Cost Including proposed IFC investment
US$35.0 million. IFC will extend a credit line of US$5 million and will make an equity investment of approximately US$3.2 million for up to 20% in Demirbank Romania (DBR).
Location of project and Description of site
Bucharest, Romania
Description of Company and Purpose of Project
(include IFC’s Role and Development Impact)
Demirbank Romania is being established as a new commercial bank in Romania and is expected to support the growth of Turco-Romanian trade and investment, and facilitate the development of the Romanian banking sector.
Environmental Category and Issues
This is a category FI project according to IFC’s environmental review procedures. Demirbank has committed to establishing an environmental management system that will ensure that investments are consistent with applicable host country environmental laws and regulations as well as applicable World Bank environmental, health and safety guidelines and policies; attending IFC’s environmental management workshops; submitting an environmental management plan;ensuring that Category A projects are cleared by IFC’s Environment Division; and submitting an annual environmental performance report.
| Date SPI sent to PIC | September 22, 1997 |
“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 974-4384
Sponsor / Cost / Location
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