TuranAlem Bank

completed

Summary Of Project Information (SPI)Project Name:Kazakhstan: Turanalem BankRegion:Central Asia, Middle East and North AfricaSector:Project No:008074Projected Board Date:May 2, 1999Company Name:Turanalem BankTechnical Partner and/or Major Shareholders Turanalem is owned by a group of companies based around Astana Holding, one of the largest private business groups in the country.Project Cost Including proposed IFC investment The total project cost is $30 million. IFC would extend six-year floating rate loans for its own account, in the amount of US$10 million to Turanalem Bank. In addition, IFC would invest up to US$2 million in Turanalem’s equity. Location of project and Description of site With headquarters in Almaty, Turanalem Bank has twenty branches throughout Kazakhstan.Description of Company and Purpose of Project The project involves a credit line to Turanalem Bank. Following its privatisation in early 1998, this is now the second largest private bank in Kazakhstan. The project will create a substantial demonstration effect by reinforcing the benefits for Kazakh banks of moving to international standards. The financing package will broaden the bank''s funding base and will be used for on-lending to metal and mining, agricultural and transportation companies as well as to small and medium enterprises for project finance, trade finance and working capital.Environmental Category and Issues This is an FI Type 2 project. Turanalem Bank will be required to undertake an environmental review of each subproject. Turanalem Bank must participate in environmental training, develop an environmental management system and provide an annual environmental performance report to IFC.The is from the Public Information Center.Date SPI sent to PIC:April 2, 1999“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