Summary of Proposed Investment
Project Number
8611
Company Name
Development Bank Of Kenya Limited
Date SPI Disclosed
Oct 22, 1997
Country
Kenya
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - General
Department
Regional Industry - FIG Africa
Environmental Category
FI
Previous Events
Approved : Apr 16, 1998
Signed : Jun 8, 1998
Invested : Nov 9, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | Kenya-Development Bank of Kenya Limited |
| Region | Sub-Saharan Africa |
| Sector |
Projected Board DateJune 1, 1998
Company NameDevelopment Bank of Kenya Limited
Technical Partner and/or Major Shareholders
The major shareholders of Development Bank of Kenya are: ICDC (30.5%), DEG (28.8%), FMO 22.8%, CDC 10.7%% and IFC (7.2%)
Project Cost Including proposed IFC investment
US$10 million
Location of project and Description of site
Kenya
Description of Company and Purpose of Project
The project involves an IFC term-loan of up to US$10 million to Development Bank of Kenya (DBK) to be on-lent to export-oriented enterprises in the productive sectors of the Kenyan economy. The IFC loan would serve to channel much-needed foreign exchange term-finance resources to fund the expansion needs of private Kenyan enterprises.
Environmental Category and Issues
This is a Category FI project according to IFC’s environmental Review Procedures. For relevant project finance operations, DBK will be required to do an environmental review of eligible investee operations. As this is IFC’s first loan (since the introduction of Environmental Guidelines) to DBK, IFC will asses DBK’s capacity to conduct environmental review.
| Date SPI sent to PIC | October 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
Revised Oct. 27 to reflect accurate country.
Sponsor / Cost / Location
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