Central America Growth Fund

completed

Summary Of Project Information (SPI)Project NameCentral America - Central America Growth FundRegionLatin America and CaribbeanSectorProject No009842Projected Board DateNovember 25, 1999Company NameCentral America Growth FundTechnical Partner and/or Major ShareholdersThe Central America Growth Fund is an initiative of the Provident Group, an investment banking firm headquartered in New York with offices in San Francisco, Costa Rica, and Guatemala. Steve Carlson is chairman and CEO, and Hans Heckman is president and COO. Provident’s partners in charge of the fund are Christopher Harley and Erik Peterson. Project Cost Including proposed IFC investmentTotal project cost will be up to $50.0 million of which IFC will make an equity investment of the lesser of $10.0 million or 25% of total commitments.Location of project and Description of site: Central America.Description of Company and Purpose of ProjectThe project aims at establishing the Central America Growth Fund, an up to $50 million private equity fund focused on Central America. The fund would target medium-size enterprises with long-term growth and capital appreciation potential. IFC’s will have seats on both the advisory and investment committees of the fund. The fund will fill an important gap in the menu of financing alternatives available to companies in the region, which are now facing capital constraints. In addition, the fund will help improve corporate governance standards in the region by requiring portfolio companies to follow international best practices.Environmental Category and IssuesThis is an FI Type 2 project. The fund manager, Provident, will be required to undertake an environmental review of each subproject. The fund manager must participate in environmental training as may be required by IFC, develop an environmental management system, and provide an annual environmental performance report to IFC.Date SPI sent to InfoShop October 18, 1999“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) 473-7711Fax: (202) 974-4384