Demirbank A.S.: Term Lending Facility

completed

Summary Of Project Information (SPI)Project NameTurkey-DEMIRBANK Capital Investments Financing Facility     RegionEuropeSectorProject No007433Projected Board DateApril 15, 1996Company NameDEMIRBANKTechnical Partner and/or Major Shareholders Cingilli Holding A.S., a leading Turkish financial services group controlled by the Cingillioglu family.Project Cost Including proposed IFC investment US$30 million, of which US$15 million will be for IFC’s own account and US$15 million will be provided in the form of an IFC “B” Loan by FMO N.V. of the Netherlands.Location of project and Description of site Istanbul, TurkeyDescription of Company and Purpose of Project DEMIRBANK is a medium-sized commercial bank, wholly owned by the Cingillioglu family. As of December 31, 1995, the bank had total assets of US$843 million equivalent and shareholders’ equity of US$118 million equivalent. The proceeds of the proposed financing package will be on-lent by the bank to Turkish private sector companies for financing modernization and expansion programs.Environmental Category and Issues This is an environmental review category FI project. For relevant operations, DEMIRBANK will undertake an environmental review of each subproject. Date SPI sent to PIC March 13, 1996For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365