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Kingdom of Eswatini
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Kingdom of Eswatini

Department: Lending and Investment
Project Name: FINCORP MSME Re-lending Project
Project Description: The TaiwanICDF will lend to FINCORP US$10,000,000 and the funding will be made available to MSMEs whose work involves agriculture, manufacturing, freight and transportation, forestry, construction, industry, irrigation, purchase order financing and deposit financing. By providing access to such funding, the project should see MSMEs or contract manufacturers win business opportunities from government agencies or much larger enterprises.

FINCORP MSME Re-lending Project

Implementation Start Date: 2012/5/16
Implementation End Date: 2019/5/15
Project Objectives: FINCORP will re-lend the funds to micro-, small- and medium-sized enterprises (MSMEs) throughout Swaziland in order to create more local employment opportunities, and to promote rural development and improve people’s livelihoods.
Executing Agency: Swaziland Development Finance Corporation
Implementation Arrangement: This US$10-million project comprises a seven-year loan with a two-year grace period and is backed by the Swazi Ministry of Finance through a guarantee agreement. The TaiwanICDF will disburse the proceeds of the loan in 3 tranches (US$4 million, US$3 million and US$3 million) to the FINCORP in accordance with its funding requirements and corporate operating conditions.
Project Manager: Daphne Tien
Phone: +886 2 28732323 ext.504
E-mail: daphne_tien@icdf.org.tw
Signing Date: 2012/5/16
Sector: Economic Infrastructure and Services
Sector Item: Banking and Financial Services
Borrower: Swaziland Development Finance Corporation
Cooperating Country: Eswatini
Project status: Projects under implementation
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  • Date Updated:2013/5/15