Nidb Line of Credit


Project Summary

Approval Date 23 Mar 1989
Signature Date 30 May 1989
Planned Completion Date 31 Mar 1999
Last Disbursement Planned Date 31 Mar 1999
Sovereign / Non-Sovereign Non-Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 69,644,669.08
Status Completion

Project Objectives

The line of credit was designed to assist NIDB in fulfilling its objective of restructuring the manufacturing sector towards reliance on local inputs and spare parts, by providing the foreign exchange resources to NIDB, for on-lending to promoters of small and medium scale industrial projects which are dependant on local raw materials. The loan also aims at: (i) assisting some selected state DFIs in promoting small scale enterprises; and (ii) providing financial resources to import raw materials for selected NIDB's projects, in order to increase their capacity utlization and eventually reduce the level of arrears to NIDB. The line of credit aims at assisting NIDB in achieving its objective of (i) stimulating and increasing the production and use of local resources; (ii) enhancing backward and forward industrial linkages; (iii) increasing the local value added in industrial production; (iv) rehabilitating and rationalization of the existing porto-folio by providing projects with bright long-terme prospects with permanent working capital; (v) generating employment; (vi) strengthening its financial position; and (vii) promoting small scale projects in rural areas through State DFIs.

Participating Organization

Funding
African Development Bank

Information

IATI identifier 46002-P-NG-H00-001
Last Update 18 Oct 2020

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Geographic Location

Country Nigeria