DFC

closed

The Banque Nationale de Developpement Economique (BNDE) Project for Burundi was established in 1967 to assist in the economic: development of Burundi, to provide loan and equity funds to agricultural, industrial and tourism enterprises and to finance housing. An exploratory mission visited BNDE in October 1975 and concluded that financial assistance to this institution for industrial development might be warranted if the preparation of industrial projects for BNDE financing evolved satisfactorily during the following months. As such was the case, the appraisal of BNDE took place during the fall of 1976. The present report appraises BNDE for an International Development Association (IDA) credit of US$3.4 million. The main objectives of the credit are: (i) to provide financing on appropriate terms to industrial investment projects in Burundi which are well conceived in economic, financial and technical terms; and (ii) to strengthen the project appraisal capabilities and internal organization of BNDE which is the only institution for the promotion and financing of industrial investments in Burundi.