|Approval Date||06 Oct 1999|
|Signature Date||15 Dec 1999|
|Sovereign / Non-Sovereign||Non Sovereign|
|DAC Sector Code||24030|
The proposed project is a line of credit to East African Development Bank (EADB) in an amount of US$ 20 million to finance private sector orientated SME and some large scale enterprises (LSE), which are export-oriented and/or locally resource-based. The line of credit will be used to finance foreign exchange components of private-sponsored sub-projects in the productive sectors and a few private sector infrastructure projects. It will help establish viable sub-projects in the EADB's pipeline of projects. These projects are mostly export-oriented and when implemented will earn significant foreign exchange for the country and at the same time contribute to employment generation.
The objective of the line of credit is to provide financial support to the East African Development Bank (EADB) to enable the institution to extend term lending and lease finance to private sector sub-borrowers mainly in the productive sectors of the economy as well as to a few private infrastructure sub-borrowers.
The line of credit is expected to generate some 5000 jobs and provide earnings or savings of foreign exchange to the tune of US$60 million per annum. Hence, it is estimated that the private sector orientated SME some large scale enterprises (LSE) and women will benefit from the proposed line of credit. Linkage of industry to agriculture will help to alleviate poverty by generating employment in the rural where most of the people are below poverty line.
African Development Bank
|Last Update||20 Jun 2021|