Far East Bank and Trust Company

completed

Summary Of Project Information (SPI)Project NamePhilippines - Far East Bank and Trust CompanyCo-Financing FacilityRegionAsiaSectorProject No008295Projected Board DateJune 20, 1997Company NameFar East Bank and Trust Company (FEBTC)Technical Partner and/or Major Shareholders The project principal sponsor is FEBTC, a major bank holding company in Manila, Philippines.Project Cost Including proposed IFC investment The total project cost is about US$75 million involving an IFC A Loan of US$25 million and a B Loan of US$50 million.Location of project and Description of site Manila, PhilippinesDescription of Company and Purpose of Project With total assets equivalent to $4.7 billion as of December 31, 1996, FEBTC is the sixth largest domestic commercial bank in the Philippines. The proposed credit line will provide US Dollar term financing to assist FEBTC in funding and developing its industrial and infrastructure project long term financing capabilities, thereby helping FEBTC to expand in a business area where its activity so far has been limited.Environmental Category and Issues This is a Financial Intermediary (FI) category project according to IFC’s environmental review procedure. For revenant operations, FEBTC will be required to undertake an environmental review of eligible sub-borrowers environmental performance and each sub-borrower’s compliance with the Filipino Government environmental, health and safety laws, regulations, and standards. In addition, IFC will access FEBTC’s capability to carry out environmental reviews.Date SPI sent to PIC May 15, 1997For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 974-4384