Intra-Regional Trade Enhancement Facility

completed

Summary Of Project Information (SPI)Project NameIntra-Regional Trade Enhancement Facility RegionCentral and Eastern Europe / CISSectorProject No007172Projected Board DateFebruary 17, 1996Company NameN/ATechnical Partner and/or Major Shareholders Raiffeisen Zentralbank Österreich A.G.Project Cost Including proposed IFC investment US$40 million, including an IFC guarantee of up to US$20 millionLocation of project and Description of site Central and Eastern Europe and the European part of the CISDescription of Company and Purpose of Project The project involves the establishment of a US$40 million five year revolving trade enhancement facility for guaranteeing the credit risk of selected banks within Central and Eastern Europe and the European part of the CIS (the Region) engaged in trade finance. The co-guarantor of the facility will be Raiffeisen Zentralbank Österreich A.G. (RZB), a leading Austrian commercial bank. RZB and IFC will each assume 50% of the risk exposure under the facility. The facility will offer private exporters and importers in the Region the ability to cover credit risks deriving from commercial transactions through letters of credit or guarantees issued by selected banks in the Region and co-guaranteed by RZB and IFC, thereby facilitating trade within the Region. Environmental Category and Issues This is a category C project according to IFC''s environmental review procedure. No further environmental review is therefore required. Date SPI sent to PIC January 17, 1996For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365