The Lesotho National Development Corporation (LNDC) and the Industrial Development Corporation (IDC) of South Africa have signed a two year collaborative agreement. Chief Executive Officer, Mr. Peete Molapo signed on behalf of the LNDC while
the IDC’s Mr. Geoffrey Qhena signed on behalf of his company.

The LNDC chief executive said the programme is expected among other things to strengthen the economic research capacity of LNDC. The agreement should be the first of many such agreements in which the LNDC establishes long-term strategic alliances with regional development finance institutions in order to leverage its resources and capacity to achieve its objectives, he said.

Mr. Qhena said the two corporations need to take a lead so that other financiers can have the confidence of following their initiatives as implementing agencies of their respective
governments. 

03 November 2005