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Business News Mon, 6 Apr 2020

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Coronavirus: Govt to give GH¢600m loan to MSMEs

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Government has announced a loan package of GH¢600 million to micro, small and medium scale businesses to support their operations, amid the COVID-19 pandemic.

This will be done in collaboration with the National Board for Small Scale Industries, Business and Trade Associations as well as selected commercial and rural banks.

According to President Akufo-Addo, the facility will lessen the negative impact of the coronavirus outbreak on businesses.

He disclosed this when he addressed the nation on Sunday, 5 April 2020 regarding the state of the COVID-19 pandemic in Ghana.

The loan will have a year moratorium and two-year repayment period.

Source: Class FM

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