AfDB approves $200m to IDC to support industrialisation projects in Africa

The African Development Bank Group (AfDB) has approved a private sector multicurrency line of credit of $100-million and R1.3-billion to South Africa’s Industrial Development Corporation (IDC). The operation will support industrialisation projects in South Africa and in other regional member countries. Fifty per cent of the funding will be used for projects in South Africa and the balance will be directed to regional projects in Mozambique, Malawi, Ghana, Kenya, Namibia, Mauritius, Swaziland and Sudan. This is the third nonsovereign-guaranteed line of credit from the AfDB.