Industrial Development Corporation Approves $1 Million USD in Financing

After a year-long due diligence process, the Industrial Development Corporation (IDC) of South Africa has approved a $1 Million USD (R7.2 million) low-interest loan to ALA to finance equipment purchases and operating costs. ALA is one of the first nonprofit organizations ever approved for such a loan by the IDC, a financial institution established to promote economic growth in South Africa. The IDC loan is a long term investment which gives credence to our organizational governance and operating model. We are thrilled to have the support of South Africa’s premier development finance institution.

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