Bank of Marshall Islands

completed

Summary Of Project Information (SPI)Project NameMarshall Islands - Bank of Marshall Islands     RegionAsia - PacificSectorProject No007506Projected Board DateDecember 31, 1996Company NameBank of Marshall IslandsTechnical Partner and/or Major Shareholders Bank of Marshall Islands (BOMI), which is based in Majuro in the Republic of the Marshall Islands. Technical assistance and training will be given to help expand its business into new market areas and strengthen its capacity to better cope with an expected economic contraction.Project Cost Including proposed IFC investment Total project cost is estimated at US$500,000, which is a IFC venture loan (through PIIF, the Pacific Islands Investment Fund). Location of project and Description of site The project will be located in the Island of Majuro of the Republic of the Marshall Islands.Description of Company and Purpose of Project (include IFC role\development impact) This project is a five year loan and technical assistance package. The loan of US$500,000 will be made to the Bank of Marshall Islands (BOMI) by IFC’s Pacific Islands Investments Fund (PIIF). This would be IFC’s investment in the Republic of the Marshall Islands (RMI). The proposed five-year loan, along with a technical assistance package, would help BOMI expand into new larkets, and strengthen its capacity to cope with the expected contraction in Government-related activities in the economy of RMI.Environmental Category and Issues This project is a category C according to IFC’s environmental review procedure and will not have any environmental impact.Date SPI sent to PIC: Revised:March 12, 1996March 15, 1996For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365