VoxTel S.A.

completed

Summary Of Project Information (SPI)Project NameMoldova: VoxTel     RegionEuropeSectorProject No009272Projected Board DateDecember 15, 1998Company NameVoxTel Technical Partner and/or Major Shareholders France Telecom Mobiles International - 51%, the international cellular subsidiary of France Telecom, the main French telephone operator and various Moldovan and Romanian partners (49%).  Project Cost Including proposed IFC investment US$65 million project cost (over 1998-2000 period). IFC would provide for its own account a US$10 million A Loan, quasi-equity of US$5 million, potential equity of up to US$ 1.25 million (representating up to 5% of VoxTel) and would syndicate a US$25 million B Loan.      Location of project and Description of site Moldova - countrywide cellular network.Description of Company and Purpose of Project VoxTel, a joint venture between France Telecom Mobiles International and various Moldovan and Romanian partners, was recently awarded, in a competitive bid, a 15-year license to install and operate a digital cellular telephone system in Moldova. The license requires the Company to build up a nationwide network providing coverage to 56% of the Moldovan population within 4 years of operations. The Company presently operates an analog cellular network and began digital services in October 1998. This project would bring in modern technology and management systems as well as help upgrade the country''s communications infrastructure. The project will help support the needs of the business community and help to fulfill demand for more and better quality communications.      Environmental Category and Issues This is a category B project according to IFC''s environmental and social review procedure. Environmental issues associated with this project may include: right-of-way alignment, land acquisition, development of previously undisturbed land, tower site selection, PCBs and Halons, solid and liquid waste treatment and disposal, fire prevention and emergency response, and worker safety. VoxTel has committed that all land leased/purchased for antenna installation will be on a willing seller, willing buyer basis. The installation of the cellular sites will not involve the establishment of new right-of-way, all cell sites will be accessible from existing roads. VoxTel will follow French regulations and standards for environmental and aesthetic issues related to the installation of antennas. As part of an educational campaign on health affects of GSM antennas, VoxTel conducted several television and radio programs, in addition, VoxTel will publicize press releases on this issue to allay public fears that have surfaced regarding this issue. Solid and liquid waste generated as part of network installation and operations are limited and will be disposed of in accordance with local regulations. No equipment containing PCBs or Halons will be installed. IFC will monitor ongoing compliance with World Bank policies and guidelines during the life of the project by evaluating monitoring reports submitted annually to IFC by the sponsor and by conducting periodic site reviews during project supervision. The is from the Public Information Center.Date SPI sent to PIC November 12, 1998“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) 974-4384Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).