Lessons from experience[, volume I] : the design and implementation of commercial lending projects by AID"s Bureau for Private Enterprise

Congress to promote development of the private sector in the Third World. This report analyzes PRE"s experience to date in its two principal types of projects: direct loans to agribusinesses and indirect loans to local intermediate financial institutions (IFI"s) for onlending to small and medium businesses. Specifically, the report presents case studies of: (1) two direct loans - to Leather Industries of Kenya and Antigua Shrimpery Ltd.; and (2) two loans to IFI"s - the public sector Commercial Finance Company in Kenya and the private sector WAFABANK in Morocco. The report also draws on the experience of comparable projects of PRE"s Investment Office, various USAID"s, the World Bank, and the International Finance Corporation. A total of 20 lessons learned are presented in the areas of program operations, development impact, and replicability/sustainability. Suggestions for incorporating these lessons in future programs conclude the report.