Banco del Suquia Credit Line

completed

Summary Of Project Information (SPI)Project NameARGENTINA - Banco del Suquía Credit Line     RegionLatin America and the Caribbean     SectorProject No008723Projected Board DateFebruary 23, 1998Company NameBanco del Suquía (Suquía)Technical Partner and/or Major Shareholders Banco del Suquía’s largest shareholder is Inversora del Suquía, which is controlled by Roggio, S.A., a major, family-owned Argentine construction and public works group and founding shareholder of the bank. The remaining shares are owned by other founding shareholders, Suquía managers, and the general public. Banco del Suquía’s shares are listed on the Buenos Aires stock exchange.Project Cost Including proposed IFC investment A syndicated credit facility comprising an “A” Loan of up to US$30 million for IFC’s account and a “B” Loan of up to US$50 million for the account of participants.     Location of project and Description of site Central provinces of Argentina (mainly Córdoba, Santa Fé, Entre Rios and Mendoza)Description of Company and Purpose of Project Banco del Suquía is a medium-sized regional Argentine bank with assets of approximately US$1.6 billion at September 30, 1997. It is the leading private bank in the province of Córdoba, where it has 26 of its 89 branches and 5 of its 14 mini-branches. Its remaining branches are primarily in the neighboring province of Santa Fé. The credit line will enable Suquía to provide longer term lending to regionally-based middle-market companies, which are Suquía’s principal customers. It will also help Suquia to further develop its residential mortgage lending business in the central region of Argentina. As a syndicated facility, the credit line will also help mobilize longer term funding from other sources for this region. This is consistent with IFC’s efforts to encourage further strengthening of the Argentine banking sector and to help promote economic growth in the provinces.     Environmental Category and Issues This is an environmental review category (FI) project. Suquía will be required to carry out an environmental review of eligible investee companies’ operations. In addition, IFC will assess Suquía’s capability to carry out environmental reviews.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