Summary of Proposed Investment
Project Number
9575
Company Name
Banco General S.A.
Date SPI Disclosed
Jun 28, 1999
Country
Panama
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - General
Department
Global Industry, Financial Markets
Environmental Category
C - No Impact
Previous Events
Approved : Jan 10, 2000
Signed : May 2, 2000
Invested : Aug 14, 2000
Project Description
Summary Of Project Information (SPI)
| Project Name: | PANAMA: Banco General II |
Region:Latin America and the Caribbean
Sector:
Project No:009575
Projected Board Date:July 29, 1999
Company Name:Banco General S.A.
Technical Partner and/or Major Shareholders
Banco General S.A. is a wholly-owned subsidiary of Empresa General de Inversiones, S.A. a publicly-traded Panamanian corporation with assets of US$1.6 billion and equity of US$186.9 million as at December 31, 1998.
Project Cost Including proposed IFC investment
US$25 million A Loan
Location of project and Description of site
Panama City, Panama
Description of Company and Purpose of Project
The Project consists of a US$25.0 million 5-year A loan to provide Banco General with medium-term funding and help the bank extend the average maturity of its liabilities with relation to that of its assets.
Environmental Category and Issues
This is a category C project according to IFC''s environmental review procedure. No further environmental review is required.
The is from the InfoShop.
| Date SPI sent to InfoShop: | June 28, 1999 |
“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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