COVID-19 LOAN GUARANTEE SCHEME GUIDELINES AVAILABLE

The Ministry of Finance and Economic Development (MFED) has informed the public that as part of government’s economic response to the coronavirus (COVID-19) pandemic, a loan guarantee scheme will be offered to affected businesses and that the guidelines are now available. “The purpose of the scheme is to encourage lending to qualifying businesses by offering a partial government guarantee of 80% to banks against losses to eligible applicants. The banks shall retain the remainder of the 20% risk of the financial facility. All business sectors are eligible for the scheme provided they meet requirements as stipulated in the guidelines. The guidelines are available on the ministry’s website (www.finance. gov.bw), and MFED and BwGovernment Facebook pages,” a statement from the Ministry of Finance and Economic Development says.