Terra Capital Fund

completed

Summary Of Project Information (SPI)Project NameLatin America-Biodiversity Enterprise Fund     RegionLatin AmericaSectorProject No007338Projected Board DateAugust 1, 1996Company Namen/aTechnical Partner and/or Major Shareholders A group of institutions, including multi lateral and bilateral development institutions, and Latin American, Euoprean and North Amreican foundations and private sector investors. Project Cost Including proposed IFC investment Target size: US$20 - 30 million. IFC investment: US$5 million in the Fund; US$150,000 in the Fund Management Company.Location of project and Description of site Latin America; focus on Brazil and Andean and Southern Cone countries.Description of Company and Purpose of Project The project is to establish a private equity fund to invest in unlisted, commercially viable private companies undertaking sustainable uses of biological diversity in Latin America. The Fund will be managed by a new fund management company to be led by Dynamo Administracao de Recursos Ltda., a Brazilian investment fund manager, and TW Consultoria e Participacoes, a private investment firm. IFC will participate in the Fund’s Board of Directors, Investment Committee and Biodiversity Advisory Committee. The Global Environment Facility is expected to provide US$5 million in grant funds to cover biodiversity- related project screening and monitoring costs. Environmental Category and Issues The Fund is a Financial Intermediary (FI) category project according to IFC’s environmental review procedure. The Fund will be required to undertake an environmental review of eligible investee companies’ operations. IFC will assess the Fund’s ability to carry out out environmental reviews on each investee company. Date SPI sent to PIC June 25, 1996For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365