International finance corporation (ifc)
Investment Guidelines
In order to receive IFC funding, a project must be in the private sector; it must be technically sound; it must have a good prospect of being profitable; and it must benefit the local economy. The project must also be environmentally sound. To ensure the participation of other private investors, IFC funding is usually limited to 25 percent of the total project cost. Investments in small and medium-sized projects range from $100,000 to $1 million, and in larger projects from $1 million to $100 million.
Application Procedures
There is no standard application form for IFC financing. A company or entrepreneur seeking to establish a new venture or expand an existing enterprise can approach IFC directly. This can be done by requesting a meeting or by submitting preliminary project or corporate information. After these initial contacts and a preliminary review, IFC will request a detailed feasibility study or business plan to determine whether or not to appraise the project.
Ifc Products and Services
IFC offers three broad and complementary services: project finance, resource mobilization, and advisory services.
Financial Products
IFC provides fixed- and variable-rate loans in a variety of leading currencies. These loans typically have maturities of 8 to 12 years, with grace periods and repayment schedules determined on a case-by-case basis in accordance with the borrower's cash flow needs. If warranted by the project, IFC provides longer-term loans and longer grace periods.
IFC's equity investments are based on project needs and anticipated returns. The Corporation is never the largest single shareholder and does not take an active role in company management. To meet national ownership requirements, its share holdings can, in some cases, be treated as domestic capital or "local" shares. IFC usually maintains its equity investments for a period of 8 to 15 years and is considered a long-term investor. IFC's preferred objective is to sell its shares through the domestic stock market.
IFC provides a full range of quasi-equity finance, including convertible debentures, subordinated loans, loans with warrants, and other instruments. These products are provided when necessary to ensure that a project is soundly funded.
Other financial products offered by IFC include credit and equity lines, venture capital, and leasing. The Corporation invests in credit lines and private equity funds to make longer-term finance available to small and medium-sized enterprises as they seek to enhance their competitiveness in more open economies around the world. Credit lines to developing-country banks help redress the limited availability of term financing that constrains the ability of these banks to provide working capital and investment financing for their corporate customers.
COMMONWEALTH OF THE BAHAMAS
Articles of Association
of
ORDEKS LIMITED
The International Business Companies’ Act 1989
Company limited by Shares
In the interpretation of these presents, unless there be something in the subject or context inconsistent therewith:-
"the Act" means The International Business Companies Act 1989 of the Bahamas as amended from time to time;
"Resolution of Directors" and "Resolution of Members" have the meanings assigned thereto respectively by the Act;
"the Directors" means the Directors for the time being;
"the Office" means the registered office for the time being of the Company;
"the Register" means the register of members to be kept pursuant to Section 14(1) of the Act;
"month" means calendar month;
"in writing " and "written" include printing, lithography and other modes of representing or reproducing words in a visible form. Words importing the singular number only include the plural number and vice versa; Words importing persons include corporations.
COMMONWEALTH OF THE BAHAMAS
Memorandum of Association
of
ORDEKS LIMITED
THE INTERNATIONAL BUSINESS COMPANIES ACT 1989
A NON-RESIDENT COMPANY LIMITED BY SHARES
The name of the Company is ORDEKS LIMITED,
The Registered Office of the Company is situated at 94 Dowdeswell Street in the Island of New Providence, one of the Islands in the Commonwealth of the Bahamas and its postal address is P.O. Box N-7521, Nassau, Bahamas.
The Registered Agent of the Company is Elco Investments Company Limited whose address is 94 Dowdeswell Street, P.O. Box N-7521, Nassau, Bahamas.
The object or purpose for which the Company is established is to engage in any act or activity that is not prohibited under any law for the time being in force in the Commonwealth of the Bahamas.
The liability of the members is limited.
