$300m loans coming for micro/small/medium enterprises

Finance Minister Colm Imbert said government will be providing support to the micro/small/medium-enterprise sector through a $300 million loan programme.

He said government will subsidise all the interest and part of the collateral as well on these loans which will be provided through state bank First Citizens Bank, so that the interest rate can be controlled.

He said micro-enterprises will also be given additional support in terms of grants, as it is understood that they are less able to stand the shocks of these times. Imbert said the loans will be for payroll support and he will give further details next week.