Commercial Bank of Palestine Micro-Lending (Multicompany with 7669 and 7668)

completed

Summary Of Project Information (SPI)Project NameMicrolending   RegionMiddle East and North AfricaSectorProject No007670Projected Board DateJune 27, 1996Company NameArab Bank, Cairo Amman Bank, National Bank of Jordan, Commercial Bank of PalestineTechnical Partner and/or Major Shareholders N/AProject Cost Including proposed IFC investment The aggregate size of each of the Jordian component and WBG component is estimated to be US$20 million constituted of IFC funds (40%), donor funds (20%) and commercial bank funds (40%). These funds will be subdivided among the participating banks and segregated into special purpose accounts at each participating bank for onlending to microenterprises.Location of project and Description of site West Bank/Gaza and JordanDescription of Company and Purpose of Project The purpose of the project is to provide a catalyst for the commercial banks to develop their microlending businesses and thus ensure a sustainable source of microfinance for the microbusinesses.Environmental Category and Issues This is a category C project according to IFC’s environmental review procedure. Therefore, no additional environmental analysis is required. Date SPI sent to PIC June 4, 1996For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365