Softbank Latin America Ventures Summary Of Project Information (SPI)       Project Name    Latin America - Softbank Latin America Ventures (SBLAV)      RegionLatin America and the Caribbean   SectorTelecommunications   Project No010244   Projected Board DateFebruary 11, 2000   Company NameSoftbank Latin America Ventures   Technical Partner and/or Major Shareholders    	Softbank Latin America Ventures (SBLAV) is owned by SOFTBANK Corp., a Japan-based global Internet company (90%), and IFC (10%). Other strategic investors may be identified by the sponsors     Project Cost Including proposed IFC investment    	Total project cost is estimated at $150 million financed with equity only. IFC''s equity investment will total $15 million.    Location of project and Description of site    	The fund will invest in companies throughout Argentina, Brazil, Mexico and other Latin American countries.    Description of Company and Purpose of Project    	SBLAV is a fund that will invest in Internet companies in Latin America. The fund will incubate foreign business models and also invest in local businesses. The investment will bring successful leading edge Internet models to Latin America, and foster local enterprises, through the incubation approach that allows entrepreneurs to focus on business concepts while a core of centrally-based experts handles many of the ancillary business start-up requirements. Growth of e-business and Internet-based enterprises in the developing world will narrow the gap, or digital divide, between countries with access to information technology and countries that are hampered by reliance on traditional sources of information and business tools.   The project will seek to improve Internet access levels in targeted Latin American countries by generating investor interest in emerging markets, which in turn should help lower the price of Internet access and increase the number of subscribers.   IFC''s presence in the project would help to focus attention on the opportunities in Latin America in this rapidly developing industry; provide the credibility necessary for the project to attract top level strategic business partners and entrepreneurs; provide Latin America with knowledge and expertise that will be critical for the successful implementation of the project; identify some of the constraints impeding the diffusion of Internet applications; and bring parallel investment and expertise to develop the enabling physical and commercial infrastructure.    Environmental Category and Issues    	This is a category FI Type 2 project according to IFC''s environmental and social review procedure.  The project sponsor has committed to establishing an environmental management system to ensure that investments will be consistent with the environmental health and safety requirements of the country of location and with IFC environmental and social safeguard policies; will not involve companies whose principal business includes activities on IFC''s exclusion list; and will not invest in companies whose principal business involves environmental Category A projects/activities  (category A investments are those with the potential for diverse and significant environmental impacts).  In addition, the company''s staff with responsibility for environmental and social issues will participate in an environmental and social management workshop and provide an annual environmental progress report.        Date SPI sent to InfoShop     March 9, 2000      This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors.  It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration.    For Additional Information contact:  Corporate Relations Unit -   telephone: (202) 473-7711   facsimile: (202) 974-4384