Korfezbank Medium Term On-Lending Facility

completed

Summary Of Project Information (SPI)Project NameTurkey-KORFEZBANK Capital Investments Financing Facility     RegionEuropeSectorProject No007463Projected Board DateMay 15, 1996Company NameKORFEZBANKTechnical Partner and/or Major Shareholders Dogus Group, a Turkish conglomerate, and Qatari investors consisting of members of the Qatari royal family and the related Al-Ahli Bank.Project Cost Including proposed IFC investment US$30 million, of which US$15 million will be for IFC’s own account and US$15 million will be provided in the form of an IFC “B” Loan by FMO N.V. the Netherlands.Location of project and Description of site Istanbul, TurkeyDescription of Company and Purpose of Project KORFEZBANK is a medium-sized wholesale commercial bank. As of December 31, 1995, the bank had total assets of US$693 million equivalent and shareholders’ equity of US$103 million equivalent. The proceeds of the proposed financing package will be on-lent by the bank, to Turkish private sector companies, for financing modernization and expansion programs.Environmental Category and Issues This is an environmental review category FI project. For relevant operations, KORFEZBANK will undertake an environmental review of each subproject.Date SPI sent to PIC March 18, 1996For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365