LUSAKA, June 8 (Xinhua) -- The Zambian government has established a bank aimed at giving impetus to the government's industrialization agenda, an agency that spearheads the government's commercial investment agenda said on Friday.
The Industrial Development Corporation (IDC) said the setting up of the Zambia Industrial Commercial Bank Limited was one of its new projects aimed at giving impetus to the government's industrialization agenda.
The new bank was expected to open its doors to the public before the end of the third quarter of this year, it added in a statement.
"The bank, which has been created with a vision of fostering economic development by promoting the industrialization and commercialization of Zambian businesses, is currently in the process of implementing a new core-banking system, and will open to the general public before the end of the third quarter of 2018," the statement said.
The Industrial Development Corporation was incorporated in January 2014 and is mandated to spearhead government's industrialization and commercial investments agenda.
