Egypt - 4th Line of Credit

The present project is an African Development Bank Line of Credit to Development Industrial Bank (DIB) to finance industrial development in Egypt. The loan should provide DIB with foreign exchange to finance the foreign exchange components of small and meduim scale projects to be selected by DIB and approved by ADB. It's designed because the Government is convinced that increased public assistance to the private industrial sector is in the best interests of the Egyptian economy and people. In addition, DIB is the main development finance institution providing mainly long and medium term investment finance to small and medium scale industrial enterprises, most of which are privately owned.