Croatia Capital Partnership L.P.

completed

Summary Of Project Information (SPI)Project NameCroatia-Croatia Capital Partnership L.P.     RegionCentral and Southern EuropeSectorProject No009100Projected Board DateJuly 17, 1998Company NameCroatia Capital Partnership L.P.Technical Partner and/or Major Shareholders The General Partner and Manager for Croatia Capital Partnership L.P. ("CCP" or "the Fund") is CCP Ventures Ltd., an investment management company incorporated in Jersey. The Fund currently has capital commitments from Zagrebacka Banka (the largest private bank in Croatia), EBRD, and CCP Capital Ltd. (a special purpose vehicle set up by the General Partner). Advent International Corporation ("Advent") will invest in the Fund and will take an active role in the governance of the Fund. Advent is a leading Boston-based private equity and venture capital investment management company with about US$2 billion under management.Project Cost Including proposed IFC investment CCP has a target capital size of US$25-30 million and IFC''s equity investment is expected to be up to US$5 million, for up to 20% of the capital of CCP. Location of project and Description of site CCP will make equity and equity-related investments in Croatia.Description of Company and Purpose of Project CCP is a private equity fund which will make equity and equity-related investments in small- and medium-sized enterprises (SMEs) in Croatia. IFC has a strong role to play in the success of this project. Although Croatia received an investment grade rating from Standard & Poor''s in 1996, most smaller enterprises still do not have easy access to equity or long-term debt financing. Hence, this investment provides IFC the opportunity to provide equity finance to a range of SMEs in an environment where sources of long-term financing are scarce. IFC’s investment in the Fund will be catalytic in attracting more foreign investors into the Fund and, on a wider scale, provide confidence to foreign direct investors.Environmental Category and Issues This is a Financial Intermediary (FI) category project according to IFC''s environmental review procedure. The Fund will be required to undertake an environmental review of eligible investee companies’ operations. In addition, IFC will assess the Fund’s capability to carry out environmental reviews of each investee company.Date SPI sent to PIC      June 15, 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