Project document on the establishment of an African indusrtrial development fund

Abstract

The third conference of African ministers of Industry, held in Nairobi from 17 to 22, 1975, recognized the necessity and urgency of the creation of the Fund. The purpose of the proposed fund is not the provision of capital investment but rather the provision of finance for industrial reinvestment activities, without which the intended investment could never come about; The fund should in co-operation with other appropriate organizations, take the initiative in seeking out feasible projects ; It should provide general information, advice and guidance on investment processes to prospective individual or group Investors; on request the fund should recommend reliable and independent consulting engineering firms to undertake feasibility studies for proposed industrial projects; whenever possible, the fund should charge African governments a concessionary rate for financing feasibility studies on integrated packages of small-scale and rural industries.