Summary of Proposed Investment
Project Number
8871
Company Name
Guyana Americas Merchant Bank
Date SPI Disclosed
Mar 11, 1998
Country
Guyana
Industry
Financial Markets
Status
Completed
Sector
Merchant Bank
Department
Regional Industry FIG LAC & EUR
Environmental Category
FI
Previous Events
Approved : Jun 30, 1998
Signed : Jun 22, 2000
Invested : Nov 17, 2000
Project Description
Summary Of Project Information (SPI)
| Project Name | Guyana - Guyana Americas Merchant Bank |
| Region | Latin America and the Caribbean |
Sector
Project No8871
Projected Board DateApril 17, 1998
Company NameGuyana Americas Merchant Bank (GuyAm Bank)
Technical Partner and/or Major Shareholders
The sponsors are Guyana Bank for Trade and Industry (GBTI), a commercial bank with a merchant banking license, and the Beharry family as the majority GBTI shareholder (the Beharry family would also invest directly in the new merchant bank). The Beharry family has interests in agroindustry, trade and financial services in Guyana and abroad.
Project Cost Including proposed IFC investment
US$25 million of which the proposed IFC investment would comprise up to US$1 million in equity and an up to US$7 million credit line.
Location of project and Description of site
Georgetown, Guyana
Description of Company and Purpose of Project
The project is to establish Guyana’s first merchant bank to support development of the country’s private sector and capital markets, by providing term finance and new financial instruments and services. It will help reduce Guyana’s current dependence on official aid flows. Additionally, the Bank will have an outward focus which would contribute to capital market development and financial integration among other countries of the region. IFC has technical assistance, institution-building and resource-mobilization roles.
Environmental Category and Issues
This is a Financial Intermediary (FI) category project according to IFC''s environmental review procedure. The bank will be required to undertake an environmental review of eligible borrower''s environmental performance and each sub-project''s compliance with the Government of Guyana environmental, health and safety requirements as well as applicable World Bank policies and guidelines. In addition, IFC will assess the Bank''s capability to carry out environmental reviews.
| Date SPI sent to PIC | March 11, 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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