Summary of Proposed Investment
Project Number
8698
Company Name
Peace Technology Fund Ltd.
Date SPI Disclosed
Jan 9, 1998
Country
West Bank and Gaza
Industry
other
Status
Completed
Sector
Private Equity/Venture Cap Fund - Country
Department
Equity Portfolio Management
Environmental Category
FI
Previous Events
Approved : Jan 20, 1998
Signed : Oct 7, 1998
Invested : Oct 13, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | West Bank and Gaza-Peace Technology Fund |
| Region | Central Asia, Middle East and North Africa |
| Sector |
Projected Board DateJanuary 16, 1998
Company NamePeace Technology Fund
Technical Partner and/or Major Shareholders
Evergreen Canada Israel Limited
Capital Investment Management Corporation
Project Cost Including Proposed IFC Investment
Equity investment of up to US$20 million in the Fund and equity participation of 20% in a separate Fund Management company (FMC) to be established to manage the Fund, for an investment of up to US$200,000.
Location of Project and Description of Site
West Bank and Gaza
Description of Company and Purpose of Project
(include IFC’s Role and Development Impact)
| The proposed project involves the establishment of an investment fund for the West Bank and Gaza. The objective of the Fund is to realize above average returns from investments in equity and equity related securities of companies principally located in the West Bank and Gaza. |
The Fund is expected to invest in labor intensive industries, whether located in the industrial estates or elsewhere in the West Bank and Gaza. The Fund will encourage the establishment of WBG enterprises and there by contribute to job creation.
Environmental Category and Issues
This is a Financial Intermediary (FI) category project according to IFC’s environmental review procdure. The Peace Technology Fund will be required to undertake an environmental review of eligible investee companies’ operations. In addition, IFC will assess the Peace Technology Fund’s capability to carry out environmental reviews of each investee company.
| Date SPI sent to InfoShop | January 9, 1998 |
“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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