Nedbank CIB concludes R1bn funding facility for the IDC

Nedbank Corporate and Investment Banking (CIB) has concluded a R1-billion term funding facility for the State-owned Industrial Development Corporation (IDC) of South Africa. The funding will support the IDC in its mandate to promote industrial capacity, foster an inclusive economy and maximise development impact across various sectors, as well as assist the State-owned entity to secure capital from debt capital markets, development finance institutions and commercial banks.