|Approval Date||12 Dec 1984|
|Signature Date||11 Feb 1985|
|Sovereign / Non-Sovereign||Non Sovereign|
|DAC Sector Code||24030|
The present project is an African Development Bank Line of Credit to Development Industrial Bank (DIB) to finance industrial development in Egypt. The loan should provide DIB with foreign exchange to finance the foreign exchange components of small and meduim scale projects to be selected by DIB and approved by ADB. It's 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 objective of the present line of credit is to continue to assist in the development of the small and medium scale industrial sector in egypt by providing DIB with the foreign exchange ressources for onlending to promoters of small and medium scale industrial projects.
The direct beneficiary of the Line of Credit is the Industrial Development Bank. In addition, the project should indirectly benefit small and medium-sized industrial enterprises.
African Development Bank
|Last Update||02 Oct 2022|