Line of Credit III to Dib (ADB)


Project Summary

Approval Date 24 Nov 1981
Signature Date 26 Jan 1982
Sovereign / Non-Sovereign Non Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 10,001,799.18
Status Completion

Project General Description

The present project is the third Line of Credit (LOC) in the series of credits granted by the African Development Bank to the Development Industrial Bank (DIB). The utilization of the previous credits has been laudable and DIB has gained adequate experience in development financing and has thereby acquired a high absorptive capacity. This LOC of 10 million is designed because the Government is convinced that increased public assistance to the private industrial sector is in the best interests of the Egyptian economy and people. In addition, DIB is the main development finance institution providing mainly long and medium term investment finance to small and medium scale industrial enterprises, most of which are privately owned. The role of DIB is to support private initiatives with special emphasis on the small and medium size industries and related activities.

Project Objectives

The objective of the line of credit is to meet partially the foreign exchange needs of DIB. It's to be used for supporting small scale and medium-sized industries, particularly in the private sector.

Beneficiaries

The direct beneficiary of the Line of Credit is the Industrial Development Bank. In addition, the project should benefit small scale and medium-sized industries, particularly in the private sector.

Participating Organization

Funding
African Development Bank

Information

IATI identifier 46002-P-EG-HAA-004
Last Update 26 Jan 2023

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Contact Details

Email private-sector@afdb.org

Geographic Location

Country Egypt