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Korea - Second Medium Industry Bank Project (English)

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  • Korea - Second Medium Industry Bank Project (English)
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Title Korea - Second Medium Industry Bank Project (English)
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Material Type Others
Publisher

World Bank (WB)

Date 1977
Language English
File Type Link
Subject Economy < Financial Policy

Abstract

The Second Medium Industry Bank Project will be used to help cover the foreign exchange requirements of industrial subprojects to be financed by MIB, apart from direct imports, the proceeds of the loan will be utilized to finance the foreign exchange component of domestically procured capital goods (estimated at 60%). In order to ensure that a substantial portion of the loan is used for small-scale, labor-intensive subprojects, an amount of US$20 million of the proceeds of the proposed loan will be earmarked to assist: (a) subprojects creating employment at a gross capital cost per job not in excess of US$6,000, or (b) enterprises whose fixed assets are not greater than US$250,000. The free limit for subloans is being maintained at US$0.5 million.