Summary of Proposed Investment
Project Number
9081
Company Name
BIMI - Banco de Investimento, SARL
Date SPI Disclosed
May 4, 1998
Country
Mozambique
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - General
Department
Regional Industry - FIG Africa
Environmental Category
C - No Impact
Previous Events
Approved : Jun 29, 1998
Signed : Dec 18, 1998
Invested : Feb 11, 1999
Project Description
Summary Of Project Information (SPI)
| Project Name | Mozambique: BIM-Investimento |
| Region | Sub-Saharan Africa |
| Sector |
Projected Board DateJune 15, 1998
Company NameBIM-Investimento
Technical Partner and/or Major Shareholders
Banco Internacional de Moçambique
Banco Cisf
Project Cost Including proposed IFC investment
US$2.0 million, including an IFC equity investment of up to US$300,000.
Location of project and Description of site
Maputo (Mozambique)
Description of Company and Purpose of Project
The project consists of establishing BIM-Investimento, an investment bank in Mozambique the activities of which will primarily focus on arranging financing for local corporates; underwriting and managing debt and equity issues; and providing short-term financing/bills discounting. The establishment of BIM-Investimentos should achieve several developmental effects in Mozambique’s economy including the direct support of medium and long term investment projects, the assistance to private and public entities through financial advisory services, the improvement of the efficiency of resource allocation in the country through the mobilization and channeling of resources from foreign and domestic sources. As an investor in BIM-Investimento, IFC will play the important role of a neutral broker between local and foreign shareholders. Furthermore, this transaction will strengthen the relationship between IFC and an innovative local financial institution.
Environmental Category and Issues
This is a Category ‘C’ project according to IFC’s environmental review procedure. No further environmental review is required.
| Date SPI sent to PIC | May 4, 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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