FIM Bank - Loan

completed

_x000C_First International Merchant Bank (FIMBank or the bank), based in Malta, is a provider of trade related financial services to clients in emerging markets. FIMBank was established in 1994 and has grown its trade finance operations steadily since inception. FIMBank plans to continue its global expansion by establish factoring/ forfaiting joint ventures in five select markets – Argentina, Brazil, UAE, China and Russia – over the next 2-3 years (the project). FIMBank has requested IFC to consider: - a subordinated long term convertible loan in an amount up to ten million United States Dollars to be utilized by the bank to expand its operations by establishing joint-venture factoring and forfaiting companies in IFC member countries; and - a participation by the bank in IFC’s global trade facility for an amount up to $5 million. Malta is currently a member of IBRD and the IMF but not IFC. In February 2005, the Government of Malta formally notified IFC of its intention to apply for membership. The World Bank Corporate Secretariat in charge of membership has responded to the Maltese authorities with all the supporting documents necessary for IFC membership. IFC will seek Board approval for the project after Malta has become a shareholder of the Corporation.