Government to roll out soft loan scheme to SMEs to mitigate economic impacts of COVID-19

Must Read

Ghanaian graduates from Havard Medical School with distinction in Special Field

George Agyapong, an alumnus of KNUST, is set to graduate from the world’s prestigious Harvard Medical School with distinction...

Defining moments of Presidencies in the history of Ghana’s Fourth Republic

Governments the world over are characterised with the sort of present and future legacies they will be leaving behind...

Not knowing my running mate gives you mental disorders – Mahama mocks critics, opposition

The political atmosphere in the country is gradually heating up as the all-important general elections of 2020 draws nearer. Slowed...

President Nana Addo Dankwa Akufo-Addo has announced that his government in collaboration with the National Board for Small Scale Industries (NBSSI) is set to launch a soft loan scheme for Small and Medium Scale Enterprises (SMEs).

According to the President, a total of GHC 600 million will be loaned out to qualified SMEs indicating this decision is part of Ghana’s approach to mitigating the economic impacts of the coronavirus pandemic on small and medium scale businesses.

Speaking in his 5th address to the nation on COVID-19 updates, the president noted that this soft loan will have a one year waiting or grace period with two years repayment period adding that some selected commercial and rural banks in collaboration with trade unions be implementing the scheme.

“Government, in collaboration with the National Board for Small Scale Industries (NBSSI), Business and Trade Associations and selected Commercial and Rural Banks, will roll out a soft loan scheme up to a total of six hundred million Ghana cedis (GHC 600 million), which will have a one-year moratorium and two-year repayment period for micro, small and medium scale businesses,” President Akufo-Addo announced in his address to the nation on Sunday.

 

Source: ABCNewsgh.com

Submit your stories or articles to newsroom@abcnewsgh.com or Whatsapp them to +233 553620623

- Advertisement -

Comments

Latest News

No ‘crowded’ dancing, waving of handkerchiefs as gov’t outlines guidelines for church service

Christian worshipers have been admonished to avoid crowded dancing and waving of handkerchiefs when they next attend church service. This...

Carry your mats along when going to the mosque – Gov’t issues guidelines for Muslim worship

Muslims in the country have been urged to carry along their own mats to mosques when attending prayers. This follows the outlining of additional safety...

Disregard calls for demonstration against United States – Police warns

The Accra Regional Police Command has warned the public to disregard and stay away from a supposed demonstration against the United States of America...

President Akufo-Addo condemns racist killing of George Floyd

President Nana Addo Dankwa Akufo-Addo has condemned the painful killing of a black man, George Floyd in the United States of America by a...

Easing of restrictions: Are churches ready to reopen?

After weeks of public discourse on how to get life back to normal despite the COVID-19 pandemic, President Akufo-Addo has announced the first phase...

More Articles Like This

%d bloggers like this: