AFP Prevision (CA Pension Fund)

completed

Summary Of Project Information (SPI)Project NameLatin America and Caribbean Region - Central America Pension Fund Mgmt. Co.     RegionLatin America and the CaribbeanSectorProject No008100Projected Board DateDecember 16, 1997Company NameCentral America: El Salvador AFPTechnical Partner and/or Major Shareholders Banco Bilbao Viscaya (51%), Ernesto Fernandez-Holmann (40%) and IFC (9%)Project Cost Including proposed IFC investment The project consists of an equity investment of up to US$1.5 million to develop private mandatory and voluntary pension fund management for Central America. Total project cost is estimated at US$10 million for the Salvadorean venture. Location of project and Description of site El Salvador and Central AmericaDescription of Company and Purpose of Project The venture will start with an investment in a Salvadorean Private Pension Fund Management Company (Salvadorean AFP), which will manage the mandatory pension plans. It is anticipated that the sponsors will then develop similar AFPs throughout the region, as appropriate private pension legislation is passed in each country, and long term savings vehicles wherever they are viable. Environmental Category and Issues This is a “C” category project under IFC’s environmental review procedures. No further environmental review is requiredDate SPI sent to PIC      November 7, 1997“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) 473-7711facsimile: (202) 974-4384