PT Bank NISP - Dual Borrower Facility

completed

Summary Of Project Information (SPI)Project NameIndonesia-Dual Borrower Facility (Bank NISP and Bank Tiara)     RegionAsiaSectorProject No007497Projected Board DateJune 15, 1996Company NameBank NISP and Bank TiaraTechnical Partner and/or Major Shareholders The major shareholder of Bank NISP is the Surjaudaja family. The major shareholder of Bank Tiara is the Ometraco Corporation.Project Cost Including proposed IFC investment A loan of up to $20 million to each bank.Location of project and Description of site IndonesiaDescription of Company and Purpose of Project (include IFC role\development impact) The two banks are medium-sized, private commercial banks licensed for foreign exchange operations. NISP was established in 1941, while Tiara was set up in 1989. Both banks are listed on the Jakarta Stock Exchange. The proposed project is to channel IFC’s loans through the two banks to small and medium-sized Indonesian enterprises, particularly exporters, for project finance and trade finance. This project will help increase such enterprises’ access to much-needed term loans, thereby supporting Indonesia’s export efforts.Environmental Category and Issues This is a Financial Intermediary (FI) category project according to IFC’s environmental review procedure. The two banks will be required to undertake an environmental review of eligible borrowers’ environ-mental performance and each sub-project’s compliance with the Government of Indonesia’s environmental, health and safety requirements as well as applicable World Bank policies and guidelines. In addition, IFC will assess the two banks’ capability to carry out environmental reviews.Date SPI sent to PIC      April 24, 1996For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365