IDC gets €60m loan
May 13, 2009
By Sapa
The Industrial Development Corporation (IDC), the country's development finance institution, has received a €60 million (R685m) credit line from the European Investment Bank (EIB).
In a statement yesterday, the institution said the loan would be used to finance private sector small and medium sized enterprises.
"The funds will support viable projects undertaken by small and medium enterprises businesses in the industrial, resources and services sectors."
According to the statement, the agreement was signed in March.
"This loan is a strong signal of the EIB's commitment to supporting the private sector and encouraging the creation of employment in South Africa," said EIB vice-president Plutarchos Sakellaris, who is responsible for lending operations in South Africa.
|
|
