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Summary of Project Information (SPI) |
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| Project number | 8693 |
| Project name | Byblos Bank S.A.L |
| Country | Lebanon |
| Sector | Finance & Insurance |
| Department | Global Financial Markets Group |
| Company name | Byblos Bank S.A.L. |
| Environmental category | FI |
| Date disclosed | February 4, 1999 |
| Status | Active |
| Previous Events | Invested: May 17, 2000
Signed: June 24, 1993
Approved: April 14, 1999 |
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Summary Of Project Information (SPI)
| Project Name | Lebanon: Byblos Syndicated Credit Line |
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| Region | Central Asia Middle East, & North Africa |
Sector
Project No008693
Projected Board DateMarch 5, 1999
Company NameByblos Bank SAL
Technical Partner and/or Major Shareholders
Byblos Bank is an existing IFC client. Byblos' shareholding structure is as follows: the Bassil Group 37%, the Nassar Family 13%,the Nimr Family 11%. The remaining capital is spread among a large number of small shareholders.
Project Cost Including proposed IFC investment
A loan: US$35 million
B loan: US$50 million
Location of project and Description of site
Lebanon
Description of Company and Purpose of Project
Byblos Bank SAL is one of the leading banks in Lebanon and an existing IFC client. The 10-year facility would be used by Byblos to: (i) provide long-term project finance to small and medium-sized enterprises (SMEs); (ii) provide long-term project finance for infrastructure projects; and (iii) grow its housing loan portfolio. Byblos would utilize the funds to build its term-lending portfolio, to extend long-term mortgage products to its customers, and to have a matched asset and liability structure.
Environmental Category and Issues
This is a Financial Intermediary (FI) Type 2 project. Byblos Bank will be required to establish an environmental management system (EMS) covering policy, procedures, resources, and reporting. Byblos Bank must screen investments under the credit line and require certain activities to meet the environmental, occupational health and safety requirements of Lebanon, to be conducted in accordance with IFC environmental and social safeguard policies, and to be consistent with IFC’s Exclusion List (Annex A). Appropriate personnel will attend IFC’s 5-day course on environmental management. Byblos Bank must submit to IFC an annual environmental performance report, which will provide a summary of the operation of the EMS and the environmental performance of subprojects financed under the credit line.
The is from the InfoShop.
| Date SPI sent to InfoShop | February 4, 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 |
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