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Summary of Project Information (SPI) |
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| Project number | 8058 |
| Project name | DeltaBRAC Housing Finance Corporation (DBH) |
| Country | Bangladesh |
| Sector | Finance & Insurance |
| Department | Global Financial Markets Group |
| Company name | DeltaBRAC Housing Finance Corporation |
| Environmental category | C |
| Date disclosed | May 1, 1997 |
| Status | Active |
| Previous Events | Invested: June 22, 1998
Signed: October 15, 1997
Approved: June 30, 1997 |
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Summary Of Project Information (SPI)
| Project Name | Bangladesh-DeltaBRAC Housing Finance Corporation (DBH) |
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| Region | Asia |
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Project No008058
Projected Board DateJune 5, 1997
Company NameDeltaBRAC Housing Finance Corporation (DBH)
Technical Partner and/or Major Shareholders
The project is being sponsored by two prominant local institutions: Delta Insurance Group (45%), a local life and casualty company, and BRAC (25%), one of Bangladesh’s largest Non-Governmental Organization (NGO). In addition, IFC and Housing Development Finance Corporations of India are also expected to participate each with 15% shareholding. HDFC is also the technical partner in the project.
Project Cost Including proposed IFC investment
Shareholders have requested IFC to provide an equity investment of US$0.75 million and a long term ‘A’ loan of US$2.5 million.
Location of project and Description of site
Dhaka, Bangladesh
Description of Company and Purpose of Project
The project aims at creating the first private housing finance company in Bangladesh to provide mortgage finance to a target group (ranging from lower-middle to higher income households) who can afford monthly mortgage payments at various ranges. The project responds to the rapidly growing demand for urban housing in the local markets and the limited supply of mortgage finance.
Environmental Category and Issues
This is an environmental review category C project. No further review is necessary.
| Date SPI sent to PIC | May 1, 1997 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365 |
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