Egypt - Second Line of Credit to the Principal Bank for Development and Agricultural Credit (PBDAC)


Project Summary

Approval Date 24 Mar 1999
Signature Date 01 Dec 2000
Planned Completion Date 31 Dec 2005
Last Disbursement Planned Date 30 Jun 2007
Sovereign / Non-Sovereign Sovereign
Sector Agriculture and Rural Development
DAC Sector Code 31110
Commitment U.A 16,460,030.67
Status Completion

Project General Description

The project was conceived within the context of the macroeconomic and financial sector reforms embarked upon by the Government from the late 1980s into the 1990s. The Lines of credit (LOCs) intend to support the Government’s strategy in promoting food security and improving agricultural productivity. The LOCs should facilitate the procuring of capital equipment, provide working capital and act as ‘seed funds’ to boost grass-roots credit activity. The project comprises three (03) components namely: (i) promotion and development of small and medium-scale enterprises in the rural sector, through short and medium-term sub-loans; (ii) institutional strengthening of Principal Bank for Development and Agricultural Credit (PBDAC); and (iii) project management related activities.

Project Objectives

The project’s immediate objective was the provision of long-term financial resources to the Principal Bank for Development and Agricultural Credit (PBDAC) through the African Development Bank (ADB) and African Development Fund (ADF) lines of credit to create new and stable sources of income for small and medium scale farmers and entrepreneurs involved in agricultural and related rural-based economic activities.

Beneficiaries

The direct beneficiary of the Line of Credit is the Principal Bank for Development and Agricultural Credit (PBDAC). The final beneficiaries are farmers targeted by the PBDAC in eleven (11) governorates, namely: Kafer El-Sheikh, Gharbiya. Monofiya, Bani Swyf, Fayooum, Domyat, Menia, Assiut, Kena, Giza and Kaloobya.

Participating Organization

Funding
African Development Bank
Funding
African Development Fund
Extending
Government Of Egypt
Implementing
Principal Bank for Development and Agricultural Credit (PBDAC)

Information

IATI identifier 46002-P-EG-AZ0-002
Last Update 21 Oct 2020

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Contact Details

Name MASUMBUKO Robert
Email r.masumbuko@afdb.org

Geographic Location

Country Egypt