BNDE VIII (DFC)

closed

Through the Eighth Banque Nationale de Developpement Economique (BNDE) Project loan of US$45 million equivalent, the Bank seeks to meet 10 percent of the additional resources required by BNDE from 1977-1979 to fulfill its role in the expanding Moroccan economy. The project aims to assist BNDE in (i) providing continuing support for the development of the industrial sector in Morocco, both with respect to the private and public sector as well as (ii) expanding its promotional and development efforts, with emphasis on labor-intensive small-scale industries (SSI). To accomplish this objective, the loan provides US$5 million for a pilot project for the promotion of small-scale industries. In addition, the project aspires to help the institution in (iii) mobilizing additional resources, particularly in the international market; and (iv) strengthening its institutional appraisal capabilities, particularly with respect to larger and more complex projects, in line with the demands made on BNDE by the evolving trend of industrial development in Morocco.