06-26-20 by Spotlight Zimbabwe

IMF Approves Zero Interest Rate Loan Facility For Zimbabwean Businesses

 

The IMF Executive Board has approved a huge fund to be channelled directly to Zimbabwean SMEs and individual entrepreneurs to assist them to survive the current hard economic times.
Terms of the loan include a repayment period of up to six years with zero interest rate which is what the SMEs needs

To learn more about the loan facility and to apply for the loan follow this link.

The facility was approved by the Executive Board of the International Monetary Fund (IMF) on Wednesday. At the conclusion of the Board discussion, Tao Zhang, Deputy Managing Director and Acting Chair stated:

Emergency financing under the RCF will deliver liquidity support to help Zimbabwean SMEs cover their balance of payments gap this year.

It will provide much-needed resources for fiscal interventions to safeguard thousands of jobs and support households and firms affected by the crisis. It will also catalyze necessary financing from other donors.

 

Pindula

 

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