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					IFC Syndications
BLM Portfolio Updates
            IFC’s Finance Vice Presidency
               Vice President Finance and Treasurer
                  Vice Presit Finance and Treasurer
                            Nina Shapiro
                                  N

     Funding
    Operations
                                     Syndication and
                                  Resource Mobilization
    Liquid Asset                       Ritva Laukkanen
    Management



   Derivative /              Syndications                B Loan
 Hedging Products                                      Management
                             Stefania Berla             Matt Bauer

  Structured and
Securitized Products

                          Washington          London        Hong Kong
                                                                        2
                    B Loan Structure

                            Loan Agreement
                                                    Borrower
                             A + B Loans

Participation               • One loan agreement – IFC is lender of
                   B Loan
 Agreement                    record and administers entire loan

                            • IFC fully shares project risks with
                              participants

                            • Participation structure allows
         Participants         participants to benefit from IFC‟s
                              privileges and immunities
                                                                      3
                          B Loan Statistics
                            FY2006                          FY2007       FY2008

Annual Volume:            US$1.6 billion            US$1.8 billion    US$3.2 billion

Number of Deals:                 26                           29           29

Average B Loan Size:      US$60 million             US$61 million     US$112 million

Average Final Maturity:     7.1 years                   7.4 years       7.0 years

Average Margin:              228 bps                        256 bps      223 bps


                             (Fiscal year-end is June 30)
                                                                                       4
     B Loan: Benefits to Borrowers
• Enables loans with
  • Longer tenors
  • No withholding tax

• Completes financial package

• Introduces new banking relationships

• IFC‟s “stamp of approval”

• IFC‟s environmental and social leadership

                                              5
  B Loan: Benefits to Participants

• Preferred Creditor Status (PCS)
• Recognition of IFC‟s risk mitigation by
   • Regulators
   • Rating agencies
   • Basel II
   • Private PRI providers
• IFC‟s environmental and social leadership
• IFC‟s structuring and restructuring skills


                                               6
                                  Top 20 Participants
                          New Signings in FY2008                                         Outstanding Commitments
                               July 1, 2007 – June 30, 2008                                   as of June 30, 2008
                                        (US$ „000)                                                 (US$ „000)
 1   ABN AMRO                            295,569               1   ABN AMRO                          516,369
 2   Société Générale                    232,352               2   Société Générale                  398,822
 3   ING                                 170,388               3   Cordiant                          370,218
 4   Natixis                             154,500               4   Calyon                            292,906
 5   WestLB                              141,221               5   ING                               292,704
 6   Standard Bank                       137,069               6   WestLB                            282,437
 7   Itaú Group                          131,083               7   Natixis                           267,245
 8   UniCredit Group                     117,888               8   RZB                               186,205
 9   RZB                                 111,625               9   Rabobank                          181,616
10   Calyon                              107,833              10   Fortis                            176,435
11   Cordiant                             93,249              11   Santander                         173,441
12   Erste                                78,388              12   UniCredit Group                   170,974
13   Standard Chartered Bank              60,000              13   Itaú Group                        153,396
14   State Bank of India                  58,300              14   BNP Paribas                       150,008
15   Santander                            54,669              15   FMO                               146,728
16   Rabobank                             52,833              16   Standard Bank                     139,461
17   BNP Paribas                          47,833              17   BBVA                              125,006
18   Commerzbank                          45,000              18   Nordea                            120,095
19   Arab Bank                            40,000              19   Citi                              116,679
19   Wachovia Bank                        40,000              20   State Bank of India               114,460



                                                                                                                    7
                Participant’s Voting Rights
• 100%:        Change in money terms

• 100%:        Waive or amend conditions precedent

• 67%:         Acceleration by IFC at request of Participants

• 67%:         Release security or waive negative pledge

• 67%:         Waive or amend guarantees or support arrangements

• 67%:         Change in ownership control provision

• 51%:         Waive or amend financial covenants

• Consult:     Waive or amend non-financial covenants

          (Percentages reflect consent level required, based on total B Loan amount)
                                                                                       8
                      B Loan Portfolio
                  as of June 30, 2008 – by Region


Total Committed Portfolio: US$7.5 billion – 156 B Loans


          4.4% 1.5%

  11.1%
                          26.9%
                                         Europe & Central Asia
                                         East & South Asia
                                         Latin America & Caribbean
                                         Middle East & North Africa
                                         Sub-Saharan Africa
                                         Global

                           15.0%
 41.2%




                                                                      9
                 B Loan Portfolio
              as of June 30, 2008 – by Industry

  Total Committed Portfolio: US$7.5 billion – 156 B Loans


               6.7%
    20.0%

                         18.1%        Agribusiness
                                      Financial Markets
                                      Health & Education
                           0.3%       Information & Communication Technology
                           5.8%       Infrastructure
22.5%                                 Manufacturing & Services
                                      Oil, Gas, Mining & Chemicals


                 26.5%




                                                                               10
                B Loan NPLs: Declining Trend
      B Loan NPLs as Percentage of IFC’s Total B Loan Portfolio
                             NPLs at 2% as of June 30, 2008


25%
                           Argentina
                             crisis
20%   Asia
      crisis

15%


10%


5%


0%
      H1   H2    H1   H2    H1   H2     H1   H2      H1   H2     H1   H2   H1   H2   H1   H2
      FY2001     FY2002     FY2003      FY2004       FY2005      FY2006    FY2007    FY2008
                            Non-performing loans = 90 days past due
                                  (Fiscal year-end is June 30)                                 11
                                                     Average B Loan Write-Offs:1%

                                     5%
% of outstanding loans at year-end




                                     4%


                                     3%                                                      Argentina
                                                                                               crisis
                                     2%                                    Asia
                                                                           crisis
                                     1%


                                     0%
                                             FY99      FY00      FY01       FY02      FY03      FY04        FY05     FY06      FY07       FY08




                                          Assumes IFC A Loan write-offs are applied to B Loans. Average calculated over last 10 fiscal years.

                                                                             (Fiscal year-end is June 30)                                        12
          IFC Syndications Contacts - Portfolio
    Name            Position                Location         Telephone            E-mail
B LOAN MANAGEMENT
Matthew Bauer Manager                     Washington, DC   +1 202 458 7481   mbauer@ifc.org
Saroj Lamba     Portfolio Assistant       Washington, DC   +1 202 473 7674   slamba@ifc.org
Maria Escamilla Office Administrator      Washington, DC   +1 202 473 9709   mescamilla@ifc.org
 Latin America & Caribbean
                 Sr. Investment Officer
Gisele Saralegui                          Washington, DC   +1 202 473 6372   gsaralegui@ifc.org
                 & Team Leader
Toshie Kabuto Investment Officer          Washington, DC   +1 202 473 5338   tkabuto@ifc.org
Pavlo
                 Analyst                  Washington, DC   +1 202 458 2798   pnazarenko@ifc.org
Nazarenko
Robin Parks      Program Assistant        Washington, DC   +1 202 458 0109   rparks@ifc.org
Europe, Middle East & Africa (EMEA)

Yan Jin        Sr. Investment Officer     Washington, DC   +1 202 473 5081   Yjin@ifc.org
Emre Bayarlar Investment Officer          Washington, DC   +1 202 473 1317   ebayarlar@ifc.org
Olimpia Gjino Investment Officer          Washington, DC   +1 202 458 8296   ogjino@ifc.org
Petra Tojslova Investment Officer         Washington, DC   +1 202 473 8516   ptojslova@ifc.org
Margo Georges Analyst                     Washington, DC   +1 202 473 9605   mgeorges@ifc.org
Helen Berhe    Portfolio Assistant        Washington, DC   +1 202 473 5644   hberhe@ifc.org
 Asia
Matthew         Head of Syndications -
                                          Hong Kong        +852 2509 8129    mmorrison@ifc.org
Morrison        Asia & Team Leader
Jeehoon Park    Investment Officer        Hong Kong        +852 2509 8179    jpark5@ifc.org
Julean H‟ng     Analyst                   Hong Kong        +852 2509 8178    jhng@ifc.org         13
Adeline Law     Team Assistant            Hong Kong        +852 2509 8118    alaw@ifc.org
September 2008




                 www.ifc.org/syndications




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