Middle East Capital Group

completed

Summary Of Project Information (SPI)Project NameMIDDLE EAST - Middle East Capital Group      RegionMiddle EastSectorProject No007220Projected Board DateNovember 14, 1995Company NameMiddle East Capital Group LimitedTechnical Partner and/or Major Shareholders The main sponsors of the project are BZW, the investment banking arm of the Barclays Plc Group (U.K.), the Bin Mahfouz Group of National Commercial Bank of Saudi Arabia, and the projected Management Team. Project Cost Including proposed IFC investment US$30 million of which IFC’s equity investment is US$3 million for an equity interest of 10%. Location of project and Description of site Middle EastDescription of Company and Purpose of Project The project involves the establishment of the first regional merchant bank in the Middle East. IFC has been requested to make an equity investment of US$3 million for a 10% equity interest in the share capital of Middle East Capital Group (MECG). MECG would carry out a broad range of merchant banking activities and would focus initially on Lebanon, Jordan, the West Bank, and Gaza. MECG would play a critical developmental role in addressing the financial needs of the private sector in the Middle East and in developing its capital markets. Environmental Category and Issues This is a category FI project according to IFC''s environmental classification. MECG will be required to implement an environmental risk management system to ensure that projects financed under relevant operations comply with local environmental regulations and applicable World Bank Group guidelines and are consistent with World Bank Group policy. Date SPI sent to PIC October 27, 1995For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365