The State-owned Industrial Development Corporation (IDC) is aiming to convert a significant portion of a R24-billion investment pipeline into commitments following a steep fall in both approvals and disbursements during its Covid-afflicted 2020/21 financial year. The development finance institution reported that disbursements fell to R6.3-billion, from R8.4-billion in the prior year, while approvals slumped to only R5.4-billion from R9.5-billion.
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