P-ZW-B00-002

Project Details
ID: P-ZW-B00-002 Name: 2ND LINE OF CREDIT TO ZDB Status: Completed Country: Zimbabwe
Sector: Ind/Mini/Quar Approval date: 13-déc-1993 Task Manager: ADENIJI Taiwo Olasupo, PIFD1
Total cost: 15000000
Currency: UAC
Source(s) of financing
AfDB: 15000000
Implementing Agency: --

Objectives

The objective of the line of credit is to continue giving financial support to ZDB to enable the institution provide term lending and other developmental services to private investors in the productive sectors of the economy, thereby promoting expansion of the private sector through the small and medium-scale enterprises sector.

Description

The line of credit is to provide ZDB with foreign exchange resources to enable it provide term lending and other developmental services to private investors in the productive sectors of the economy. About 30-40 sub-projects are expected to be funded under the line of credit. Though the majority of the projects will involve rehabilitation, modernization or expansion of export oriented enterprises, a number of new resource based and export oriented projects will also be financed.

Benefits

Foreign exhange earnings for export-oriented projects, employment generation and expoitation of local raw materials.

Rational

This is the second line of credit to ZDB. It is to assist the Industrial Development Bank in its effort to promote small and medium scale local enterprises in the country. ZDB has successfully implemented the first line of credit.