Eesti Uhispank

completed

Summary Of Project Information (SPI)Project NameEstonia-Eesti ÜhispankRegionEuropeSectorFinancial ServicesProject No007562Projected Board DateOctober 31, 1996Company NameEesti ÜhispankTechnical Partner and/or Major Shareholders Eesti Ühispank is the second largest commercial bank in Estonia. Its main shareholders include seven Estonian investment companies which were among the Bank’s original founders (17%), Swedfund (11%), the Republic of Estonia (7%), Ernesto Preatoni, an Italian financier, (10%), and FIN VIP Tourism Ltd. Clients, a group of Italian investors, (6%). The remaining shareholders are predominantly Estonian individuals and companies. The Bank’s shares are traded on the Helsinki and Tallinn Stock Exchanges.Project Cost Including proposed IFC investment DM 10 millionLocation of project and Description of site EstoniaDescription of Company and Purpose of Project The credit line is to be used for onlending to private small and medium-sized Estonian companies. Proceeds of the credit line will be used for equipment acquisition and working capital to meet the restructuring and investment needs of the subborrowers.Environmental Category and Issues This is a Financial Intermediary (FI) category project according to IFC’s environmental review procedure. For relevant operations, Eesti Ühispank will be required to implement an environmental management system consistent with host country requirements and World Bank policies and guidelines.      Date SPI sent to PIC September 21, 1996For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365