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Summary of Project Information (SPI) |
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| Project number | 7477 |
| Project name | Lanka Orix Leasing Company Limited |
| Country | Sri Lanka |
| Sector | Finance & Insurance |
| Department | Global Financial Markets Group |
| Company name | Lanka Orix Leasing Company Limited |
| Environmental category | FI |
| Date disclosed | April 26, 1996 |
| Status | Completed |
| Previous Events | Invested: November 7, 1996
Signed: July 16, 1996
Approved: June 17, 1996 |
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Summary Of Project Information (SPI)
| Project Name | Sri Lanka-Lanka Orix Leasing Company, Ltd. (LOLC) |
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| Region | Asia Department |
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Project No007477
Projected Board DateMay 31, 1996
Company NameLanka Orix Leasing Company, Ltd.
Technical Partner and/or Major Shareholders
Orix Corporation of Japan was brought in as technical partner by IFC when the Company was established in 1980, and currently has 30% shareholding in LOLC.
Project Cost Including proposed IFC investment
$10 million
Location of project and Description of site
Colombo, Sri Lanka
Description of Company and Purpose of Project
LOLC is the market leader in the Sri Lankan leasing industry, providing lease financing to predominantly small and medium scale industries. The proposed project will enable LOLC to develop business with a new group of companies in Sri Lanka’s rapidly expanding manufactured exports sector, which has been growing at an average rate of more than 20% p.a. IFC will provide a $10 million loan whereby LOLC will be able to provide dollar denominated leases for the first time to Sri Lankan exporters.
Environmental Category and Issues
This is a Financial Intermediary (FI) category project according to IFC’s environmental review procedure. LOLC will be required to implement an environmental risk management system consistent with host country requirements and World Bank policies and guidelines. An officer who will conduct environmental reviews will attend IFC’s environmental risk management workshop.
Date SPI sent to PIC: April 26, 1996
For additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365 |
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