UGANDA LEASING COMPANY

completed

Summary Of Project Information (SPI)Project NameUganda:Uganda Leasing Company RegionSub-Saharan AfricaSectorProject No003698Projected Board DateFebruary 26, 1996Company NameUganda Leasing Company (UL)Technical Partner and/or Major Shareholders Development Finance Company of Uganda (DFCU) was the project sponsor and is the largest shareholder with 35% of the equity. IFC is a 18.75% shareholder in UL and a 25% shareholder in DFCU.Project Cost Including proposed IFC investment US$2 millionLocation of project and Description of site Kampala, UgandaDescription of Company and Purpose of Project UL started operations in mid-1995 as the first dedicated leasing company in the country, with a capital of US$1.5 million equivalent. To enable it to undertake foreign currency denominated leases it requires term funding. Given that it has no credit history, and the shortage of such funding from local institutions in Uganda, it is necessary that UL raise loans from its shareholders, and in due course from overseas lenders. The proposed loan from IFC will enable UL to write foreign currency denominated leases for export oriented companies in Uganda. Environmental Category and Issues This is a financial intermediary(FI)) category project according to IFC’s environmental review procedures. The Company is required to undertake an environmental review of each eligible lessee’s compliance with Government of Uganda’s environmental and occupational health and safety laws, regulations and standards as well as World Bank policies. In addition, IFC will assess UL’s capability to carry out environmental reviews. Date SPI sent to PIC January 22, 1996For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365