Egypt - Second Line of Credit to the Principal Bank for Development and Agricultural Credit (PBDAC)

The project was conceived within the context of the macroeconomic and financial sector reforms embarked upon by the Government from the late 1980s into the 1990s. The Lines of credit (LOCs) intend to support the Government’s strategy in promoting food security and improving agricultural productivity. The LOCs should facilitate the procuring of capital equipment, provide working capital and act as ‘seed funds’ to boost grass-roots credit activity. The project comprises three (03) components namely: (i) promotion and development of small and medium-scale enterprises in the rural sector, through short and medium-term sub-loans; (ii) institutional strengthening of Principal Bank for Development and Agricultural Credit (PBDAC); and (iii) project management related activities.