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Cargills Agriculture and Commercial Bank
Summary of Investment Information

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. It also includes findings and recommendations related to environmental and social considerations regarding this potential investment. The purpose of the SII is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein that has been prepared by the project sponsor, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein.
The SII is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors.

Project number 30421
RegionSouth Asia
Company nameCargills Bank
Country
Sri Lanka
SectorO-AA - Commercial Banking - General
Department
Environmental categoryFI1
StatusActive
Date SPI disclosedOctober 19, 2012
Projected board dateNovember 26, 2012
Last Updated DateOctober 19, 2012
Previous EventsInvested: April 2, 2013
Signed: March 8, 2013
Approved: January 14, 2013
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Project Description
The proposed project involves an equity investment of LKR 495Mn (approx. US$3.84Mn) to acquire up to 10% shares in a Greenfield Licensed Commercial Bank, Cargills Agriculture & Commercial Bank (‘CACB’ or ‘The Bank’) and a senior loan of up to US$7 Mn to support the Bank’s debt funding requirements. In September 2011, the Central Bank of Sri Lanka granted CACB provisional approval to set up operations subject to fulfillment of routine terms and conditions.

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