Profund Internacional, S.A.

completed

Summary Of Project Information (SPI)Project NameLatin America Region-ProfundRegionLatin America and CaribbeanSectorCapital MarketsProject No005136Projected Board DateSeptember 30, 1995Company NameProfundTechnical Partner and/or Major Shareholders The sponsors include private non-profit institutions experienced in financing microenterprises such as ACCION International of Massachusetts, the Calmeadow Foundation of Toronto, FUNDES of Switzerland, and Societe d’Investissement et de Developpement International in Paris (together the “Founders”).Project Cost Including proposed IFC investment The initial capitalization of the Fund is anticipated to be US$15-18 million, of which the Founders will invest about US$4 million and IFC up to US$3 million.Location of project and Description of site Profund will be established as a corporation in Panamá City, Panamá and the management offices of Profund will be located in San José, Costa Rica.Description of Company and Purpose of Project The project consists of establishing Profund, the first vehicle of its kind to specialize in making equity and equity linked investments in commercially viable financial institutions that serve small and micro-businesses in the Latin American and Caribbean region.Environmental Category and Issues This is a category C project according to IFC’s environmental review procedure. The Environment Division proposes to work with the management of Profund to gather information in the course of this project on characteristics of microenterprise investments and their potential for environmental impact.Date SPI sent to PIC August 16, 1995For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365