Zambia - Second Development Bank Project

Document of FILE Copy The World Bank FOR OFFICIAL USE ONLY Report No. P-2865-ZA REPORT AND RECOMMENDATION OF THE PRESIDENT OF THE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT TO THE EXECUTIVE DIRECTORS ON A PROPOSED LOAN TO THE DEVELOPMENT BANK OF ZAMBIA WITH THE GUARANTEE OF THE REPUBLIC OF ZAMBIA FOR A SECOND DEVELOPMENT BANK OF ZAMBIA PROJECT November 11, 1980 This docunent has a restricted distribution and may be used by recipients only In the performance of their official duties. Its contents may not otherwise be disclosed without World Bank authorization.  CURRENCY EQUIVALENTS US$1 = K 0.80 K 1 = US$1.25 ABBREVIATIONS AFC - Agricultural Finance Company DBZ - Development Bank of Zambla IMF - International Monetary Fund NSCB - National Savings and Credit Bank TNDP - Thlrd National Development Plan (1979-1983) ZADB - Zambia Agriculture Development Bank ZIMCO - Zambia Industrial and Mining Corporation ZNCB - Zambia National Commerclal Bank FISCAL YEAR Government: January 1 - December 31 DBZ: Aprll 1 - March 31  FOR OFFICIAL USE ONLY ZAMBIA SECOND DEVELOPMENT BANK OF ZAMBIA PROJECT LOAN AND PROJECT SUMMARY BORROWER: Development Bank of Zambia AMOUNT: US$15 Million TERMS: Twenty years, including five years grace at an interest rate of 9.25 percent per annum. ONLENDING TERMS: DBZ would charge an interest rate of at least 12 percent, and would review its interest rate each year with a view towards maintaining them positive in real terms. The foreign exchange risk on all loans would be borne by sub-borrowers. PURPOSE: The loan would be used to support DBZ' commitments for medium-and large-scale industrial, agro- Industrial and agricultural projects through March 31, 1982. | This document has a restricted distribution and may be used by recipients only in the performance of their official dutie. Its contents may not otherwise be disclosed without World Bank authorization.  Financial Statements Actual Projected Year ending March 31 1980 1981 1982 1983 1984