DFC FONEI IV

closed

The Fourth Industrial Equipment Fund (FONEI) Project will provide medium and long term financing to industrial enterprises through the commercial banking system to help finance machinery, equipment and services for high priority industrial projects, including projects to help develop technology and control pollution. The Bank loan will finance the foreign exchange component of FONEI financing over a period of about two years. The project will also help finance a training program on industrial project evaluation and supervision for financial intermediaries and FONEI's staff. A national study of human resources and technical and vocational training needs for further industrial development will be included in the project. The project presents a low level of risk with respect to the soundness of subprojects it will finance since FONEI is a mature financial institution; its institutional objectives may take longer to achieve. On the whole, the project presents a moderate level of risk.