Atlas Investment Bank - credit line

completed

Summary Of Project Information (SPI)Project NamePakistan:Convertible Line of Credit to Three Investment Banks     RegionCentral Asia, Middle East and North AfricaSectorProject No007196Projected Board DateJanuary 22, 1996Company NameAtlas BOT Investment Bank LimitedFirst International Investment Bank LimitedCrescent Investment Bank LimitedTechnical Partner and/or Major Shareholders N/AProject 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 PakistanDescription 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, 1995For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365