Luxembourg, 29/11/2002 (Agence Europe) - The European Investment Bank (EIB) is going to loan EUR 50 million out of its own resources to fund projects by small and medium-sized enterprises in the private sector in South Africa. This loans will be aimed at manufacturing industry, agri-industry, tourism and mines and will be administered by the Industrial Development corporation of South Africa (IDC), the local public institution in charge of development funding. The EIB wants to help export led companies. The loan will help to create jobs and develop entrepreneurial skills in South Africa, as well as assist economic emancipation. In compliance with South Africa's priorities, the Bank will give preference to projects will high added value. This loan is the fourth operation bringing the EIB and the IDC together.