Summary of Proposed Investment
Project Number
9021
Company Name
The Romania & Moldova Direct Fund, L.P.
Date SPI Disclosed
May 8, 1998
Country
World Region
Industry
other
Status
Completed
Sector
Private Equity/Venture Cap Fund - Regional
Department
Equity Portfolio Management
Environmental Category
FI
Previous Events
Approved : Jun 16, 1998
Signed : Dec 11, 1998
Invested : Dec 23, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | Romania and Moldova Direct Fund |
| Region | Central and Southern Europe |
| Sector |
Projected Board DateJune 30, 1998
Company NameRomania and Moldova Direct Fund
Technical Partner and/or Major Shareholders
International Equity Partners, LP
Project Cost Including proposed IFC investment
US$65-90 million, including an IFC equity investment of up to US$15 million.
Location of project and Description of site
Romania and Moldova
Description of Company and Purpose of Project
The project consists of an equity investment of up to US$15 million for up to 20% of total capital of the Romania and Moldova Direct Fund. The Fund will raise between US$65-90 million for direct equity investments in Romanian and Moldovan companies, providing technical assistance and creating a close cooperation between the international sponsors and the companies.
Environmental Category and Issues
This is a Financial Intermediary (FI) category project according to IFC’s environmental review procedure. The Romania and Moldova Direct Fund 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; designating appropriate individuals who will have responsibility for environment; 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 | May 8, 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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