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Summary of Project Information (SPI) |
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| Project number | 7196 |
| Project name | Atlas Investment Bank - credit line |
| Country | Pakistan |
| Sector | Finance & Insurance |
| Department | Global Financial Markets Group |
| Company name | Atlas Investment Bank |
| Environmental category | FI |
| Date disclosed | December 22, 1995 |
| Status | Completed |
| Previous Events | Invested: January 27, 1997
Signed: May 20, 1996
Approved: March 27, 1996 |
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Summary Of Project Information (SPI)
| Project Name | Pakistan:Convertible Line of Credit to Three Investment Banks |
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| Region | Central Asia, Middle East and North Africa |
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Project No007196
Projected Board DateJanuary 22, 1996
Company NameAtlas BOT Investment Bank Limited
First International Investment Bank Limited
Crescent Investment Bank Limited
Technical Partner and/or Major Shareholders
N/A
Project Cost Including proposed IFC investment
The proposed project consists of an IFC-syndicated line of credit totaling US$43 million to three investment banks in Pakistan for financing small and medium-scale enterprises (SMEs).
Location of project and Description of site
Pakistan
Description of Company and Purpose of Project
The project is central to IFC’s strategy of supporting SMEs which undertake the bulk of industrial activity in Pakistan. The project will also allow the Participating Investment Banks (PIBs) to expand their operations while maintaining a matched asset and liability structure. The overall financing would consist of convertible IFC A Loans for a total of US$30 million and B Loans (of about US$10 million). In addition, it is envisaged that a Risk Management Facility of US$1 million would be established with each PIB (for an aggregate IFC exposure amount of US$3 million), allowing the PIBs to hedge interest rate and currency risks and introduce innovative financial products to the local capital markets.
Environmental Category and Issues
This is an environmental review category FI project. PIBs will be required to undertake an environmental review of each sub-project. In addition, IFC will assess the PIBs’ capability to carry out environmental reviews.
| Date SPI sent to PIC | December 22, 1995 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365 |
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