[3] The board was hamstrung by the limited capital that it had with the Minister of Commerce and Industry, J. M. Jumabhoy, blaming on the activities of extreme left-wing politicians on the lack of corporations from financial institutions.

It would also be a statutory board, and in addition to the current responsibilities of SIPB to disburse loans to companies, it would have a direct part in setting up factories or make use of its capital for local joint venture projects with the private sector.

[6] To facilitate the set up of EDB, international experts were requested from the United Nations and appointed to run the board alongside local officers.

[9] In December 1961, the agency started offering free advice to nine electrical industries, releasing research materials to entrepreneurs and manufacturers.

[12] EDB received an additional grant of S$40 million to develop Jurong Industrial Estate from the Singapore government.