PDCP V (DFC)

closed

The Fifth Private Development Corporation of Philippines Project will provide scarce foreign exchange for the development of the important industrial sector. PDCP, whose performance up to date has been very satisfactory both from the developmental and institutional stand points, is an especially suitable vehicle for financing such development. The loan will be used for financing a fairly large number of economically sound and financially viable small, medium and medium-to-large scale projects, mostly in manufacturing industry. A special feature of the proposed loan is to use it as a catalyst for the mobilization of complementary external medium term funds from private financial institutions. More specifically, PDCP has made arrangements to secure a loan of $10 million from private commercial sources simultaneously and in conjunction with the proposed Bank loan. The terms and conditions of the private commercial loan have already been agreed between the lender and PDCP.