Development Bank of Kenya

completed

Summary Of Project Information (SPI)Project NameKenya-Development Bank of Kenya Limited     RegionSub-Saharan AfricaSectorProject No008611Projected Board DateJune 1, 1998Company NameDevelopment Bank of Kenya LimitedTechnical Partner and/or Major Shareholders The major shareholders of Development Bank of Kenya are: ICDC (30.5%), DEG (28.8%), FMO 22.8%, CDC 10.7%% and IFC (7.2%)Project Cost Including proposed IFC investment US$10 millionLocation of project and Description of site KenyaDescription of Company and Purpose of Project The project involves an IFC term-loan of up to US$10 million to Development Bank of Kenya (DBK) to be on-lent to export-oriented enterprises in the productive sectors of the Kenyan economy. The IFC loan would serve to channel much-needed foreign exchange term-finance resources to fund the expansion needs of private Kenyan enterprises.Environmental Category and Issues This is a Category FI project according to IFC’s environmental Review Procedures. For relevant project finance operations, DBK will be required to do an environmental review of eligible investee operations. As this is IFC’s first loan (since the introduction of Environmental Guidelines) to DBK, IFC will asses DBK’s capacity to conduct environmental review.Date SPI sent to PIC October 22, 1997“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) 974-4384Revised Oct. 27 to reflect accurate country.