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May 21, 2010 6:41 AM EST

The African Development Bank (AfDB) approved a credit line of $200 million to help South Africa's Industrial Development Corporation (IDC) finance projects across the continent, the bank said on Thursday.

"IDC will use the proceeds of the line of credit to on-lend to projects in its current lending pipeline or new projects that may arise in the near future," the Tunis-based AfDB said in a statement.

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