Kazkommertsbank

completed

Summary Of Project Information (SPI)Project NameRepublic of Kazakstan-Credit Line to Kazkommertsbank     RegionCentral AsiaSectorProject No007287Projected Board DateDecember 1, 1996Company NameKazkommertsbankTechnical Partner and/or Major Shareholders Kazkommertsbank is fully-owned by private Kazak investors.Project Cost Including proposed IFC investment IFC will extend a five-year floating-rate loan of up to US$10 million. In addition, up to 20% of the outstanding principal amount of IFC’s A loan would be convertible into equity.Location of project and Description of site Almaty, KazakstanDescription of Company and Purpose of Project The project will provide a long-term loan facility of approximately US$10 million to Kazkommertsbank, one of the leading private banks. The credit line facility will broaden Kazkommertsbank’s funding base and will be used for project finance, trade finance and the provision of working capital, including loans to small and medium-scale enterprises, thereby contributing to the development of the private sector in Kazakstan.Environmental Category and Issues Environmental Category “FI” - Kazkommertsbank will be required to undertake an environmental risk management system for the credit line. In addition, IFC will assess Kazkommertsbank’s capability to implement the system.Date SPI sent to PIC August 28, 1996For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365