Azerbaijan Joint Venture Bank

completed

Summary Of Project Information (SPI)Project NameAzerbaijan KocBank     RegionEuropeSectorProject No007761Projected Board DateFebruary 23, 1998Company NameAzerbaijan BankTechnical Partner and/or Major Shareholders KocBank Turkey (Turkey)Project Cost Including proposed IFC investment Total Cost US$5 million, IFC equity participation of US$1 million or 20% of the initial capital.Location of project and Description of site Baku, AzerbaijanDescription of Company and Purpose of Project IFC will make an equity investment in a new joint-venture commercial bank in Azerbaijan. Azerbaijan Bank will offer a full range of commercial banking services to corporate and retail clients. The sponsor and technical partner, Kocbank, is a prominent Turkish bank owned by Koc Group, a leading Turkish private sector group, which has made a substantial real sector investments in Azerbaijan. Also a local partner is involved in the project. The Bank is expected to enhance standards and facilitate the development of the banking sector.Environmental Category and Issues This is a category C project according to IFC’s environmental review procedure. No further environmental review is required.Date SPI sent to PIC January 23, 1998“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