IDF-BFN III

closed

The Third Banco de Fomento Nacional Project supports industrial development in Portugal and contributes to building capacity to promote industrial restructuring in the context of Portugal's membership in the European Community (EC). It comprises: (i) a line of credit to support the Banco de Fomento Nacional (BFN) in its ongoing financing of investment projects in mixed and private industries in Portugal. It also (ii) includes technical assistance consisting of: (a) support to a Government/BFN sponsored pilot program to promote industrial restructuring and (b) provide further institutional development in BFN. The pilot restructuring program covers two subsectors; white clay ceramics and wood and wood furniture. The institutional development of BFN involves a consultant study of BFN's management information system (MIS) needs, the implementation of the financial information component of the study and the strengthening of BFN's internal audit capability.