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Korea - Seventh Development Finance Corporation Project (English)

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  • Korea - Seventh Development Finance Corporation Project (English)
  • World Bank (WB)


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Title Korea - Seventh Development Finance Corporation Project (English)
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Material Type Reports
Publisher

World Bank (WB)

Date 1978
Language English
File Type Link
Subject Economy < Financial Policy

Abstract

The Seventh Development Finance Corporation Project will be used to help cover the foreign exchange requirements of subprojects to be financed by KDFC over the next two years, apart from direct imports, the proceeds of the loan will be utilized by KDFC to finance the foreign exchange component of domestically produced capital goods (estimated at 60%). In order to support KDFC's efforts to provide financial assistance to small- and medium-scale, relatively labor-intensive enterprises, a component of $20 million will be earmarked for financing specifically: (a) enterprises with fixed assets not exceeding $750,000, or (b) projects generating employment at a fixed investment cost per job not greater than $12,500. Also, in order to finance small- and medium-sized leasing projects, an amount of up to $10.0 million of the proceeds of the loan will be made available to the Korea Development Leasing Corporation (KDLC), a leasing company affiliated to KDFC, by way of subloans. The loan will finance projects creating an estimated 10,000 new jobs. There are no special risks associated with the project.