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Banco Unico
Summary of Proposed Investment

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors’ consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only.

Project number 30286
Company nameBanco Unico, SA
Country
Mozambique
Sector1Commercial Banking - General
Environmental categoryFI
Department
StatusPend FAP
Date SPI disclosedMay 24, 2011
Projected board dateJune 30, 2011
  Overview     Sponsor/Cost/Location     Development Impact     Contacts     Attachments  

Project description
The project entails an equity investment for a 10% stake in Banco Único, SA (“Banco Unico” or the Bank) and a senior loan to the Bank of up to $15 million.

Banco Unico is a greenfield commercial bank in Mozambique expected to start operations in 2011. The Bank will operate a universal bank business model and aims to enter regional areas and other client segments that are not yet well served by Mozambican banks.

The purpose of the project is to demonstrate IFC’s commitment to financial markets development and increased access to finance in Mozambique, an International Development Association (“IDA”) country, and support the local economy through private-sector development.

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