TUNINVEST Private Equity Fund

completed

Summary Of Project Information (SPI)Project NameTunisia: Tuninvest Private Equity FundRegionCentral Asia, Middle East & North AfricaSectorProject No008548Projected Board DateMarch 3, 1998Company NameTuninvest Finance Group (TFG)Technical Partner and/or Major Shareholders The shareholders of the Company are: Mr. Ahmed Abdelkefi (25.5%), Key Executives of the Company (55.25%), Mr. Assaad Belgacem of Investcorp (4.25%), SIPAREX (15%). SIPAREX, a French venture capital company, is the technical partner and the TUNINVEST Finance Group (TFG)the local sponsor.     Project Cost Including proposed IFC investment Twin fund of US$25 million in total. IFC has been requested to invest US$2 million in the domestic tranche and US$3 million in the international tranche. Location of project and Description of site Tunis, TunisiaDescription of Company and Purpose of Project The project consists of setting up an international fund for Tunisia (focusing on private equity investments) of US$25 to US$30 million of which TD 10 million (US$10 million equivalent) would be raised domestically. The fund would take a significant and, in some cases, a controlling interest in unlisted Tunisian companies. Because of local investors’ preferences and Tunisian regulations, the fund would be split between a domestic and an international tranche each having an independent legal structure.Environmental Category and Issues Financial Intermediary (FI).Date SPI sent to PIC February 3, 1998For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 974-4384