The Industrial Development Bank of Pakistan (IDBP) was established in 1961 as Pakistan's oldest development financing institution, providing medium and long term financing for manufacturing projects. Over the years, IDBP has expanded its role to foster small and medium enterprise growth, rural development, and offering deposit schemes. IDBP plays an active role in Pakistan's financial and capital markets. It is wholly government owned, with paid up capital of 500 million Pakistani rupees. IDBP provides commercial banking services in addition to its core development financing, acting as both a development bank and scheduled commercial bank.