What is EDC ?
The EDC Limited, formerly known as the Economic Development Corporation of Goa, Daman & Diu Limited (EDC) incorporated on 12th March 1975, as a development bank, enjoying the twin status of a State Finance Corporation (SFC) & an Industrial Development Institution. Over the last 35 years of its existence it has been a catalyst for economic development & main stream industrial growth in Goa.
The history of EDC is a repertoire of milestone achievements. It has already extended financial assistance of over Rs.800 crores by way of term loans to more than 5000 industrial & service sector projects. Some of these projects have resulted in generating large scale economic activity & crores of rupees in revenue for the state. Thousands of jobs created by these units, directly & indirectly, has certainly helped the state to ease the problem of unemployment.
EDC takes pride in its versatility that is a pre-requisite in today’s challenging & volatile business environment. The hallmark of an Illustrious organization is its ability to bounce back, after sustaining set backs. EDC has geared itself to diversify from a landing institution into a result oriented institution of trust in the service sector.
The equity capital of the corporation is not only subscribed by the Govt. of Goa but also Daman & Diu Administration and IDBI. The present shareholding of the Corporation as on 31/03/2009 is as follows:
|
Amount (Rs. In lakhs) |
Percentage |
Government of Goa |
Rs.6620.26 |
81.81% |
IDBI |
Rs.1153.22 |
14.25% |
Administration of Daman & Diu |
Rs.319.00 |
3.94% |
Total |
Rs.8092.00 |
100.00% |
STATUS OF EDC FUNDING (AS ON 31/03/2009)
Cumulative sanctions |
Rs.88,049.72 lakhs |
Cumulative disbursements |
Rs.58,197.73 lakhs |
Cumulative recovery |
Rs.85,325.69 lakhs |
The present staff strength of EDC is 91, comprising mainly of professionals from various disciplines