INDUSTRIAL CREDIT (D

closed

The Industrial Credit Project's principal objective is to build an institutional capacity to select, appraise and supervise efficient export and import substitution projects. Medium and long term credit, which is in short supply, would be made available to financial intermediaries through FODEIN to finance fixed assets, permanent working capital and preinvestment studies. Financial intermediaries would receive incentives to lend to smaller enterprises for which FODEIN would also furnish a guarantee facility. The project faces no special risks, although close initial supervision may be required since the intitutional arrangements for project administration are new.