DBM I (DFC)

closed

The proposed IDA credit of US$3.5 million would cover the import component of DBM's investments in the two-year period up to mid-1974. Of this amount, US$3 million would be for investments in industrial and tourism enterprises, US$400,000 would be for a continuation of DBM's current rate of investment in industrial estates for about one year and US$100,000 would meet the cost of a feasibility study for a larger industrial estate program to be undertaken in 1973. The proposed credit will help DBM, and as the main source of long-term finance for tourism and industry, which are the sectors expected to be the major providers of new jobs, to further the two prime national objectives, diversification of the economy and promotion of employment. Moreover, most of the projects financed by DBM are expected to be directed foreign exchange earners.