Lanka Orix Leasing Company Limited

completed

Summary Of Project Information (SPI)Project NameSri Lanka-Lanka Orix Leasing Company, Ltd. (LOLC)     RegionAsia DepartmentSectorProject No007477Projected Board DateMay 31, 1996Company NameLanka Orix Leasing Company, Ltd.Technical Partner and/or Major Shareholders Orix Corporation of Japan was brought in as technical partner by IFC when the Company was established in 1980, and currently has 30% shareholding in LOLC.Project Cost Including proposed IFC investment $10 millionLocation of project and Description of site Colombo, Sri LankaDescription of Company and Purpose of Project LOLC is the market leader in the Sri Lankan leasing industry, providing lease financing to predominantly small and medium scale industries. The proposed project will enable LOLC to develop business with a new group of companies in Sri Lanka’s rapidly expanding manufactured exports sector, which has been growing at an average rate of more than 20% p.a. IFC will provide a $10 million loan whereby LOLC will be able to provide dollar denominated leases for the first time to Sri Lankan exporters.Environmental Category and Issues This is a Financial Intermediary (FI) category project according to IFC’s environmental review procedure. LOLC will be required to implement an environmental risk management system consistent with host country requirements and World Bank policies and guidelines. An officer who will conduct environmental reviews will attend IFC’s environmental risk management workshop.Date SPI sent to PIC: April 26, 1996For additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365