ELEC & MECH. IND.

closed

The proposed loan would consist of: (i) a $28 million credit line of which one half (Part A) would be for financing priority electrical and mechanical industries, the other half (Part B) for general purpose lending to industry; (ii) a $2 million technical assistance subloan from BDET to the Government (Part C) to support the establishment of a Technical Center for Mechanical Industries and a National Institute of Standardization and Quality Control, and the preparation of an Effective Protection Study; and (iii) $0.5 million to finance the front-end fee. Also, in the context of the project: BDET would be required to allocate $30 million of its overall lending to EMI in 1982-1984, of which two-thirds to priority EMI subsectors; a set of incentives specific to EMI affecting tariff protection, price controls, exports and financing would be implemented; and two studies on development strategies for the platework and foundry subsectors would be prepared.