{"id":206823,"date":"1995-10-27T00:00:00","date_gmt":"2019-03-12T19:15:43","guid":{"rendered":"https:\/\/www.un.org\/unispal\/?p=206823"},"modified":"2019-03-12T19:15:43","modified_gmt":"2019-03-12T19:15:43","slug":"auto-insert-206823","status":"publish","type":"document","link":"https:\/\/www.un.org\/unispal\/document\/auto-insert-206823\/","title":{"rendered":"Middle East Capital Group – World Bank project – Public information"},"content":{"rendered":"
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Project Name            Middle East-Middle East Capital Group <\/p><\/div>\n

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Region                  Middle East<\/p><\/div>\n

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Sector                  Financial Services<\/p><\/div>\n

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Project No              007220<\/p><\/div>\n

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Projected Board Date    November 14, 1995<\/p><\/div>\n

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Company Name            Middle East Capital Group Limited<\/p><\/div>\n

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Technical Partner and\/or Major Shareholders<\/p><\/div>\n

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                     The main sponsors of the project are BZW, the
\ninvestment banking arm of the Barclays Plc Group (U.K.), the Bin Mahfouz
\nGroup of National Commercial Bank of Saudi Arabia, and the projected
\nManagement Team.  <\/p><\/div>\n

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Project Cost Including proposed IFC investment<\/p><\/div>\n

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                     US$30 million of which IFC's equity investment is
\nUS$3 million for an equity interest of 10%.  <\/p><\/div>\n

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Location of project and Description of site<\/p><\/div>\n

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                     Middle East<\/p><\/div>\n

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Description of Company and Purpose of Project<\/p><\/div>\n

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                     The project involves the establishment of the first
\nregional merchant bank in the Middle East.  IFC has been requested to
\nmake an equity investment of US$3 million for a 10% equity interest in
\nthe share capital of Middle East Capital Group (MECG).  MECG would carry
\nout a broad range of merchant banking activities and would focus
\ninitially on Lebanon, Jordan, the West Bank, and Gaza.  MECG would play
\na critical developmental role in addressing the financial needs of the
\nprivate sector in the Middle East and in developing its capital markets.    <\/p><\/div>\n

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Environmental Category and Issues<\/p><\/div>\n

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                     This is a category FI project according to IFC's
\nenvironmental classification.  MECG will be required to implement an
\nenvironmental risk management system to ensure that projects financed
\nunder relevant operations comply with local environmental regulations
\nand applicable World Bank Group guidelines and are consistent with World
\nBank Group policy.  <\/p><\/div>\n

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Date SPI sent to PIC October 27, 1995<\/p><\/div>\n

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For Additional Information contact:  Corporate Relations Unit –
\ntelephone: (202) 473-7711
\nfacsimile: (202) 676-0365<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Project Name            Middle East-Middle East Capital Group Region                  Middle East Sector                  Financial Services Project No              007220 Projected Board Date    November 14, 1995 Company Name            Middle East Capital Group Limited Technical Partner and\/or Major Shareholders                      The main sponsors of the project are BZW, the investment banking arm of the Barclays Plc Group (U.K.), the Bin Mahfouz Group of National Commercial Bank of […]<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"template":"","meta":{"footnotes":""},"country":[],"document-category":[1329],"document-source":[1957],"committee-meeting":[],"document-subject":[1945,1937],"entity":[1729],"document-language":[6542],"class_list":["post-206823","document","type-document","status-publish","hentry","document-category-press-release","document-source-world-bank","document-subject-assistance","document-subject-economic-issues","entity-united-nations-system","document-language-english"],"_links":{"self":[{"href":"https:\/\/www.un.org\/unispal\/wp-json\/wp\/v2\/document\/206823","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.un.org\/unispal\/wp-json\/wp\/v2\/document"}],"about":[{"href":"https:\/\/www.un.org\/unispal\/wp-json\/wp\/v2\/types\/document"}],"author":[{"embeddable":true,"href":"https:\/\/www.un.org\/unispal\/wp-json\/wp\/v2\/users\/1"}],"version-history":[{"count":0,"href":"https:\/\/www.un.org\/unispal\/wp-json\/wp\/v2\/document\/206823\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.un.org\/unispal\/wp-json\/wp\/v2\/media?parent=206823"}],"wp:term":[{"taxonomy":"country","embeddable":true,"href":"https:\/\/www.un.org\/unispal\/wp-json\/wp\/v2\/country?post=206823"},{"taxonomy":"document-category","embeddable":true,"href":"https:\/\/www.un.org\/unispal\/wp-json\/wp\/v2\/document-category?post=206823"},{"taxonomy":"document-source","embeddable":true,"href":"https:\/\/www.un.org\/unispal\/wp-json\/wp\/v2\/document-source?post=206823"},{"taxonomy":"committee-meeting","embeddable":true,"href":"https:\/\/www.un.org\/unispal\/wp-json\/wp\/v2\/committee-meeting?post=206823"},{"taxonomy":"document-subject","embeddable":true,"href":"https:\/\/www.un.org\/unispal\/wp-json\/wp\/v2\/document-subject?post=206823"},{"taxonomy":"entity","embeddable":true,"href":"https:\/\/www.un.org\/unispal\/wp-json\/wp\/v2\/entity?post=206823"},{"taxonomy":"document-language","embeddable":true,"href":"https:\/\/www.un.org\/unispal\/wp-json\/wp\/v2\/document-language?post=206823"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}