Banco Internacional de Mocambique - Investimentos

completed

Summary Of Project Information (SPI)Project NameMozambique: BIM-Investimento     RegionSub-Saharan AfricaSectorProject No009081Projected Board DateJune 15, 1998Company NameBIM-InvestimentoTechnical Partner and/or Major Shareholders Banco Internacional de Moçambique Banco CisfProject Cost Including proposed IFC investment US$2.0 million, including an IFC equity investment of up to US$300,000. Location of project and Description of site Maputo (Mozambique)Description of Company and Purpose of Project The project consists of establishing BIM-Investimento, an investment bank in Mozambique the activities of which will primarily focus on arranging financing for local corporates; underwriting and managing debt and equity issues; and providing short-term financing/bills discounting. The establishment of BIM-Investimentos should achieve several developmental effects in Mozambique’s economy including the direct support of medium and long term investment projects, the assistance to private and public entities through financial advisory services, the improvement of the efficiency of resource allocation in the country through the mobilization and channeling of resources from foreign and domestic sources. As an investor in BIM-Investimento, IFC will play the important role of a neutral broker between local and foreign shareholders. Furthermore, this transaction will strengthen the relationship between IFC and an innovative local financial institution. 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 4, 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