Lesotho - Second Line of Credit to Lesotho National Development Corporation (LNDC)


Project Summary

Approval Date 15 Dec 1994
Signature Date 23 May 1995
Planned Completion Date 30 Jun 2004
Last Disbursement Planned Date 31 Dec 2004
Sovereign / Non-Sovereign Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 3,159,504.3
Status Completion

Project General Description

The present intervention concerns the Second Line of Credit to Lesotho National Development Corporation (LNDC). It comprises a line of credit for supporting LNDC’s operations with respect to term lending to small and medium scale enterprises and industrial buildings construction. The operation is also intended to contribute to improving the level of industrial skills in the country. The project should help supporting LNDC’s operations with respect to term lending to the small and medium-sized enterprises, industrial and related buildings construction as well as facilitating technological transfer through foreign investments. The outputs of the project should include a number of new, rehabilitated or modernized subprojects from the SMEs sector, particularly those promoted by indigenous entrepreneurs. Another set of project outputs were to comprise about 10 industrial and related buildings principally for light export-oriented industries.

Project Objectives

The objective of the Second LOC to LNDC is to contribute to the expansion of export-oriented investment, the development of indigenous small and medium-sized enterprises and increased domestic absorption of labor in Lesotho.

Beneficiaries

The direct beneficiary of the Line of Credit is the Lesotho National Development Corporation (LNDC). The final beneficiaries are small and medium-sized enterprises and local entrepreneurs.

Participating Organization

Funding
Nigerian Trust Fund
Implementing
GOVERNMENT OF LESOTHO MINISTRY OF FINANCE

Information

IATI identifier 46002-P-LS-HB0-001
Last Update 20 Jun 2021

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Geographic Location

Country Lesotho