ECOBANK (II)

completed

REVISED Summary Of Project Information (SPI)Project NameEcobank (Ghana) Limited     RegionSub-Saharan AfricaSectorProject No007348Projected Board DateMarch 29, 1996Company NameEcobank (Ghana) LimitedTechnical Partner and/or Major Shareholders Ecobank’s major shareholders are as follows: Ecobank Transnational Incorporated (ETI)(58%) and Ashanti Goldfields Corporation (AGC) (20%). ETI is an international institution based in Lomé, Togo, that acts as a holding company for other banks in West Africa (Nigeria, Togo, Benin and Cote d’Ivoire).Project Cost Including proposed IFC investment US$7 million (IFC “A” Loan of US$5 million).Location of project and Description of site Accra, GhanaDescription of Company and Purpose of Project Ecobank (Ghana) Limited s a well-run, dynamic merchant bank specializing in money market and securities activities, corporate finance and term lending. The project is aimed at providing Ecobank with the necessary medium-term foreign exchange resources to expand its term lending business in favor of local private sector companies undertaking investment and expansion projects. Environmental Category and Issues This is a Category FI project according to IFC’s environmental review procedures. Ecobank will be required to undertake an environmental review of eligible borrower’s environmental performance and each sub-project’s compliance with the Government of Ghana’s environmental, health and safety requirements as well as applicable World Bank policies and guidelines. In addition, IFC will assess Ecobank’s capability to carry out environmental reviews.The is from the Public Information Center.Date SPI sent to PIC: Revised:February 28, 1996March 5, 1996For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365