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Summary of Project Information (SPI)

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Project number	8472
Project name	Demirbank Romania S.A.
Country	Romania
Sector	Finance & Insurance
Department	Global Financial Markets Group
Company name	Demirbank Romania
Environmental category	FI
Date disclosed	September 22, 1997
Status	Completed
Previous Events	Invested: December 28, 1998 Signed: November 24, 1997 Approved: November 21, 1997

Summary Of Project Information (SPI)

Project Name	Romania-Demirbank Romania

Region	Europe

Sector

Project No008472
Projected Board DateOctober 24, 1997
Company NameDemirbank Romania
Technical Partner and/or Major Shareholders

Demirbank Turkey (Turkey)

Project Cost Including proposed IFC investment

US$35.0 million. IFC will extend a credit line of US$5 million and will make an equity investment of approximately US$3.2 million for up to 20% in Demirbank Romania (DBR).

Location of project and Description of site

Bucharest, Romania

Description of Company and Purpose of Project
(include IFC’s Role and Development Impact)

Demirbank Romania is being established as a new commercial bank in Romania and is expected to support the growth of Turco-Romanian trade and investment, and facilitate the development of the Romanian banking sector.

Environmental Category and Issues

This is a category FI project according to IFC’s environmental review procedures. Demirbank 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; 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

September 22, 1997

“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.”

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