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| This Summary of Project Information is prepared and distributed to the public in advance of the IFC Board of Directors’ consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board decision. |
Summary of Project Information (SPI) |
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| Project number | 10745 |
| Project name | Micro-Enterprise Bank II |
| Country | Bosnia and Herzegovina |
| Sector | Finance & Insurance |
| Department | Global Financial Markets Group |
| Company name | ProCredit Bank d.d. |
| Environmental category | FI |
| Date SPI disclosed | January 28, 2002 |
| Projected board date | February 28, 2002 |
| Status | Completed |
| Previous Events | Invested: December 23, 2002
Signed: September 12, 2002
Approved: March 14, 2002 |
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| Project sponsor and major shareholders of project company |
| With support of IFC, Micro Enterprise Bank (MEB or the bank) was established in November 1997 as a micro finance bank. The original sponsors of the project were BH Banka, IPC, FMO, IFC and EBRD. In July 1999, KfW acquired BH Banka's shares in MEB, strengthening MEB’s position as a financial institution with broad international support. |
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| Total project cost and proposed IFC investment |
| The project consists of a seven-year loan of up to EUR3.0 million to MEB. |
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| Location of project and description of site |
| Headquartered in Sarajevo, the bank has branches in Sarajevo, Ilidza, Bihac, Tuzla, Mostar and Banja Luka. |
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| Description of company and purpose of project |
| The IFC credit line would be used for on-lending to micro and small enterprises in Bosnia. At December 31, 2001, about 94% of MEB's disbursed loans were between $1,500 and $15,000, and the average loan continues to be about Euro 4,300 (about $3,800). In addition, about 25% of loans were for women. The Euro 3.0 million IFC loan will allow MEB to continue growing its operation and its loan portfolio while continuing to extend credit to the poor and under-served of BiH. |
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| Environmental and social issues - Category FI |
This is a category FI Type 1 project according to IFC’s environmental and social review procedure. Under MEB’s existing environmental procedures, all sub-loans will comply with IFC’s Microfinance Exclusion List and host country environmental standards, and MEB will provide IFC with an annual environmental report.
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| To contact the project company, please write to: |
| Mr. Frieder Woehrmann, General Manager, Mudzeleti Mali 2, Sarajevo, BiH, Phone: 387-33-232 171, Fax: 387-33-232 174 |
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