RUR. CREDIT I

closed

The Government will make the proceeds of the Credit available to BRI at 3% interest per annum with the repayment schedule of the credit component based on the repayment schedules of subloans, ranging between 5 and 15 years, and the technical assistance component to be repaid in 20 years, including a grace period of 4 years. The project will: (a) finance long-term loans for about 40,000 smallholders for subprojects primarily in fisheries, livestock and perennial crops; and (b) improve BRI's term lending capability through technical assistance in program development, training, credit procedures, accounting and management information, and through financing of a study of the project's socio-economic impact.