Peace Tech Fund

completed

Summary Of Project Information (SPI)Project NameWest Bank and Gaza-Peace Technology FundRegionCentral Asia, Middle East and North AfricaSectorProject No008698Projected Board DateJanuary 16, 1998Company NamePeace Technology FundTechnical Partner and/or Major Shareholders Evergreen Canada Israel Limited Capital Investment Management CorporationProject Cost Including Proposed IFC Investment Equity investment of up to US$20 million in the Fund and equity participation of 20% in a separate Fund Management company (FMC) to be established to manage the Fund, for an investment of up to US$200,000.Location of Project and Description of Site West Bank and GazaDescription of Company and Purpose of Project(include IFC’s Role and Development Impact) The proposed project involves the establishment of an investment fund for the West Bank and Gaza. The objective of the Fund is to realize above average returns from investments in equity and equity related securities of companies principally located in the West Bank and Gaza. The Fund is expected to invest in labor intensive industries, whether located in the industrial estates or elsewhere in the West Bank and Gaza. The Fund will encourage the establishment of WBG enterprises and there by contribute to job creation.Environmental Category and Issues This is a Financial Intermediary (FI) category project according to IFC’s environmental review procdure. The Peace Technology Fund will be required to undertake an environmental review of eligible investee companies’ operations. In addition, IFC will assess the Peace Technology Fund’s capability to carry out environmental reviews of each investee company.Date SPI sent to InfoShop      January 9, 1998“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 974-4384