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IFC, EIB and PROPARCO Invest in Intaj Capital II a Fund focusing on the MENA region, sponsored and advised by SWICORP

IFC , EIB and PROPARCO are investing in Intaj Capital II, a private equity fund targeting US$ 300 million which will be deployed in businesses in the Middle East, North Africa and Turkey to help strengthen companies, spur economic growth, and create jobs. The initial closing of Intaj Capital II was held on September 30, 2010.

The Fund is sponsored and advised by SWICORP, a financial advisory and private equity firm with over 20 years of experience providing such services across the MENA region.

Intaj Capital II will invest in mid to large size companies operating in sectors driven by growth in consumer demand such as consumer goods, retail, communications, consumer services, construction materials and consumer financial services. The Fund aims to create regional market leaders and support and develop companies so that they can expand both locally and across the region.

"Already being an investor in Intaj Capital I, PROPARCO renews its partnership with Swicorp through an investment in Intaj Capital II. In addition to the contribution to the development of a dynamic SME sector in the MENA region, we are pleased to support Swicorp and the investment team in becoming an established and prominent fund manager in the region." said Laurent Demey, Deputy Chief Executive Officer of PROPARCO.

Dimitris Tsitsiragos, IFC Director for the Middle East, North Africa and Southern Europe said: "With these investments we aim to act as a catalyst by demonstrating that the growth of funds in emerging markets can play a significant role in developing private sector companies."

"The European Investment Bank is committed to investing in private equity operations which provide economic diversification and employment as well as enhance the corporate standards of enterprises in our partner countries", highlighted Philippe de Fontaine Vive, EIB Vice-President, responsible for the Mediterranean region.

Companies that the fund invests in will also receive advice on implementing better corporate governance, raising environmental and social performance, and other business support which aims to improve the long-term and sustainable development of investee companies by advising them both before and after they receive financing.

The MENA region is comprised of over 20 countries with similar backgrounds, cultures and traditions on the one hand and complementary socio-economic profiles on the other. With a combined population of over 300 million and an aggregate GDP in excess of US$4.1 trillion in 2009, the region represents a significant consumer market with a young and growing population. The cultural affinities and common language among the region's countries as well as the comparable consumption trends and habits of their populations are conducive to the creation of pan-regional companies. The region is also characterized by an opening up regulatory environment with ongoing economic liberalization and privatizations; unprecedented levels of foreign direct investment; an evolving corporate culture; and an under-penetrated private equity sector

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About International Finance Corporation ( IFC )
IFC , a member of the World Bank Group, fosters sustainable economic growth in developing countries by supporting private sector development, mobilizing capital for private enterprise, and providing advisory and risk mitigation services to businesses and governments. Our new investments totaled US$14.5 billion in fiscal 2009, helping channel capital into developing countries during the financial crisis.

IFC is a leading private equity investor in emerging markets, with a portfolio that includes over 160 funds. As of June 2010, IFC 's investments in private equity funds totaled US$2.66 billion representing a 22 percent increase over last year.

Contact:
Riham Mustafa
+202 24 61 4230
RMustafa@ifc.org
www.ifc.org

About European Investment Bank ( EIB )
The European Investment Bank is the Bank of the European Union and provides long-term finance for capital projects promoting European economic objectives. Its arm dedicated to the Mediterranean region is called FEMIP, Facility for Euro- Mediterranean Investment and Partnership. FEMIP's remit is to promote the development of nine countries: Algeria, Egypt, Jordan, Lebanon, Morocco, Syria, Tunisia, Israel and Gaza/West Bank. Its two investment priorities are: support for the private sector, the driving force behind sustainable growth, and the creation of an investment-friendly environment by means of efficient infrastructure and appropriate banking systems. FEMIP has established itself as the main financial partner of the Mediterranean region, with more than EUR 10 billion invested since 2002. It also encourages dialogue between the two shores of the Mediterranean, at the institutional level but also with the representatives of the private sector and civil society.

With the assistance of the EU, EIB invests EU budgetary resources in risk capital operations, including through private equity funds as well as direct equity and quasi-equity investments in the private sector, in the FEMIP region (excluding Israel).

Contact:
Anne-Cécile Auguin
+352 43 79 61 000
a.auguin@bei.org
www.eib.org

About PROPARCO
PROPARCO is a Development Financial Institution partly held by Agence Française de Développement (AFD) and private shareholders from the North and South. PROPARCO's mission is to be a catalyst for private investment in developing countries which targets growth, sustainable development and reaching the Millennium Development Goals (MDGs). PROPARCO finances operations which are economically viable, socially equitable, environmentally sustainable and financially profitable. Its sectoral strategy is tailored to the level of a country's development and focuses on the productive sector, financial systems, infrastructure and equity investment. PROPARCO invests in a geographical area ranging from major emerging countries to the poorest countries, in particular in Africa, and has high level requirements in terms of Social and Environmental Responsibility. PROPARCO has a wide range of financial instruments (loans, equity, guarantees and financial engineering). PROPARCO has a team of 130 people, 11 regional offices and is supported by 50 AFD Group agencies worldwide. In 2009 PROPARCO granted €1, 1 billion for over eighty projects in more than thirty countries.

Contact:
Benoit Verdeaux
+33 1 53 44 37 50
verdeauxb@proparco.fr
www.proparco.fr

About Swicorp
Swicorp is a leading private equity, corporate finance advisory, and principal investment firm with a specific regional focus on the Middle East and North Africa region, where it has been present since 1987 and where it has developed an extensive track record of pioneering transactions.

Swicorp Private Equity is independently managed and has nearly US$ 1.3 billion of assets under management. The Private Equity team is composed of over 30 experienced professionals from both within and outside the region and with local presence in 4 offices across MENA.

Contact:
Safia Hachicha
+216 71 169 400
shachicha@swicorp.com
www.swicorp.com

© Press Release 2010