The AIG Emerging Europe Infrastructure Fund Summary Of Project Information (SPI)       Project Name    Europe and Central Asia - AIG Emerging Europe Infrastructure Fund       RegionCentral and Southern Europe and Central Asia   SectorFinancial Services and    Project No009824   Projected Board DateSeptember 30, 1999   Company NameAIG Emerging Europe Infrastructure Fund (EEIF)   Technical Partner and/or Major Shareholders    	American International Group (AIG), ABN AMRO Bank N.V. (ABN AMRO) and Edison Capital (Edison) (together the sponsors) have approached IFC to support the development of AIG Emerging Europe Infrastructure Fund (EEIF). AIG is a U.S.-based insurance company. AIG affiliates manage one of the largest portfolios of private equity investments in emerging markets, totaling over US$6 billion in committed capital. ABN AMRO is a major financial institution based in the Netherlands. Edison is the capital and financial services subsidiary of Edison International, an energy and infrastructure company. Edison has an extensive record of successful international investments, including European energy and infrastructure projects.   The fund will be managed by a newly created management company, which will be advised by Emerging Markets Partnership (EMP), a U.S.-based fund advisor company.    Project Cost Including proposed IFC investment    	The fund is expected to raise at final closing about US$1 billion equivalent. IFC''s proposed investment in EEIF is US$30 million, which represents 3% of the Fund''s total committed capital.     Location of project and Description of site    	EEIF will be domiciled in Bermuda and will invest in (a) Bulgaria, Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, the Slovak Republic and Slovenia; (b) the Commonwealth of Independent States (CIS) comprising of Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Moldova, Russian Federation, Tajikistan, Turkmenistan, Ukraine and Uzbekistan; and (c) other countries in Central and Eastern Europe such as Albania, Bosnia and Herzegovina, Croatia, Macedonia and Turkey.     Description of Company and Purpose of Project    	The project consists of the formation of a closed-end private equity fund, which will be established as a limited liability partnership in Bermuda. The objective of the EEIF is to invest in long-term capital appreciation through equity, quasi-equity and convertible debt instruments in infrastructure-related industries in the countries mentioned above. The target rate of return is 20-25 percent per annum. 	    Environmental Category and Issues    	This is a Financial Intermediary (FI) Type 2 project according to IFC''s environmental review procedure. The fund will be required to undertake an environmental review of each subproject to ensure compliance with host country requirements, IFC''s environmental and social safeguard policies, and, if applicable, the World Bank Group environmental, health and safety guidelines. IFC will assess the fund''s capability to carry out environmental reviews. The fund will identify an environmental consultant acceptable to IFC. The fund must obtain IFC clearance prior to making any investment with IFC funds in any category "A" project.        Date SPI sent to PIC     August 31, 1999      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