Banco Internacional de Moçambique, SARL

completed

Summary Of Project Information (SPI)Project NameMozambique-Banco Internacional de Moçambique (BIM)Commercial BankRegionSub-Saharan AfricaSectorProject No007524Projected Board DateJune 13, 1996Company NameBanco Internacional de Moçambique (BIM)Technical Partner and/or Major Shareholders The technical partner is Banco Commercial Portugues (BCP), which also owns 50% of BIM. BCP is a very successful bank and is now Portugal’s largest private financial service group with a 20% share of the Portuguese banking market.Project Cost Including proposed IFC investment The total project cost for the project is between US$30 million and US$35 million, including a 20% IFC participation in the capital of BIM for up to US$5 million as well as the extention of a loan between US$5 million and US$10 million.Location of project and Description of site Maputo, MozambiqueDescription of Company and Purpose of Project The project consists of IFC taking an equity participation of up to 20% for a total consideration of about US$5 million equivalent in the capital of BIM, a recently established commercial bank in Mozambique, as well as the extension of a term loan between US$5 million and US$10 million to strengthen BIM’s foreign currency treasury operations.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 May 13, 1996For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365