UDC Limited

completed

Summary Of Project Information (SPI)Project NameZimbabwe-udc Holdings LimitedRegionSub-Saharan AfricaSectorProject No007763Projected Board DateFebruary 1, 1997Company NameZimbabwe: udc Holdings LimitedTechnical Partner and/or Major Shareholders udc’s largest shareholder is Edesa of Switzerland (30% of the capital). udc’s shares are listed on the Harare Stock Exchange.Project Cost Including proposed IFC investment The total project cost for the project is up to approximately US$12 million. IFC total financing is between US$8-10 million as detailed below. Location of project and Description of site Harare, ZimbabweDescription of Company and Purpose of Project The project consists of the extension of (i) an up to US$8 million line of credit to udc Holdings Limited, (ii) an up to US$4 million equivalent local currency guarantee facility and (iii) an up to US$0.2 million loan-equivalent US$/ECU currency swap. The proposed financing package will help udc fund its growing leasing business with local private sector companies. The swap will enable the Company to offer its client exporters US$-denominated loans using an ECU funding.Environmental Category and Issues This is a category FI according to IFC’s environmental review procedure. Thus, udc will be required to do an environmental review of the lessees’ proposed operations funded with the proposed IFC loan. In addition, IFC will assess udc’s capabilities of carrying out an environmental review of each lessee. Date SPI sent to PIC     December 18, 1996 For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365