Pacific Islands Investment Facility (PIIF) Phase II

completed

REVISED Summary Of Project Information (SPI)Project NamePacific Islands Investment Facility (PIIF) Phase IIFormerly the Quasi-Equity Investment Facility (QEIF)RegionPacific IslandsSectorProject No008002Projected Board DateAugust 1, 1997Company Name     N/ATechnical Partner and/or Major Shareholders The Asia Department (primarily CASD2) will continue to manage the PIIF through this interim period and, along with CASDR, take the lead in planning a more permanent arrangement, such as an independent fund. Project Cost Including proposed IFC investment The project involves a $6.0 million, 3 year, Phase II Pacific Islands Investment Facility (PIIF), formerly known as the “ Quasi-Equity Investment Facility (QEIF) ”. Location of project and Description of site This Facility will invest in projects located in the nine Pacific island member countries of IFC. Description of Company and Purpose of Project The PIIF operates in small, remote, island countries where IFC has found great difficulty in generating regular deal-flow that can be efficiently processed through standard Washington procedures. Excluding the PIIF, IFC has made investments in only three countries in the region. Environmental Category and Issues This is an environmental review category (FI) project. PIIF will be required to undertake an environmental review of each sub-project. IFC will review and clear all PIIF projects. Date SPI sent to PIC: Revised:December 24, 1996April 29, 1997For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365