Jordan Investment Trust

completed

Summary Of Project Information (SPI)Project NameJordan-Jordinvest     RegionMiddle East     SectorFinancial ServicesProject No008833     Projected Board DateJanuary 30, 1998     Company NameJordan Investment Trust PLCTechnical Partner and/or Major Shareholders     The main sponsor of the project is Gulfinvest, an investment company which provides development capital to businesses in the Middle East.      Project Cost Including proposed IFC investment Jordinvest would be capitalized at JD 20 million (US$28 million equivalent) of which IFC’s equity investment is JD 1 million (approximately US$1.4 million) for a 5% shareholding.Location of project and Description of site Amman, Jordan           Description of Company and Purpose of Project The project involves the establishment of the first investment bank in Jordan. Jordinvest would carry out a broad range of investment banking activities, including providing long-term private equity, investing in quoted investments, underwriting and private placement of debt and equity issues, corporate finance activities especially restructurings, privatization, and mergers and acquisitions. Jordinvest would play a critical developmental role in addressing the financial needs of the private sector in Jordan and in developing its capital markets. Through its affiliation with its sponsor, Gulfinvest, the Company would also attract foreign as well as Middle Eastern investors to the region. Environmental Category and Issues      This is a Financial Intermediary (FI) category project according to IFC’s environmental review procedures. Jordinvest will be required to undertake an environmental review of eligible companies’ operations. In addition, IFC will assess Jordinvest’s capability to carry out environmental reviews of each investee company.      Date SPI sent to PIC      December 10, 1997“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 974-4384