IDC sticks to R100bn, five-year loans target despite 2015 pull-back

The State-owned Industrial Development Corporation (IDC), which reported a fall in loan approvals and disbursements in 2015, has retained its five-year target of injecting R100-billion of development finance into the South African economy by 2020, despite weak market conditions. During 2015, the IDC’s loan disbursements fell to R10.9-billion from R11.2-billion in 2014, while its new approvals declined to R11.5-billion from R13.8-billion.